Louisiana-Pacific Corporation $LPX Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. has significantly reduced its stake in Louisiana-Pacific Corporation by 76.3%, now holding approximately $7.49 million worth of shares.
• Analysts have varied opinions on Louisiana-Pacific, with price targets adjusted between $108.00 and $117.00, reflecting mixed ratings of Buy, Hold, and Sell among analysts.
• Louisiana-Pacific recently paid a quarterly dividend of $0.28, representing an annualized yield of 1.2%, with a dividend payout ratio of 26.42%.

Panagora Asset Management Inc. trimmed its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 76.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,405 shares of the building manufacturing company's stock after selling 262,218 shares during the period. Panagora Asset Management Inc. owned about 0.12% of Louisiana-Pacific worth $7,488,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Eminence Capital LP increased its stake in shares of Louisiana-Pacific by 7.7% during the 4th quarter. Eminence Capital LP now owns 1,445,106 shares of the building manufacturing company's stock worth $149,641,000 after purchasing an additional 102,897 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Louisiana-Pacific by 2.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,266,145 shares of the building manufacturing company's stock worth $131,109,000 after purchasing an additional 24,285 shares in the last quarter. Northern Trust Corp increased its stake in shares of Louisiana-Pacific by 27.1% during the 4th quarter. Northern Trust Corp now owns 781,984 shares of the building manufacturing company's stock worth $80,974,000 after purchasing an additional 166,594 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Louisiana-Pacific by 6.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 684,998 shares of the building manufacturing company's stock worth $63,007,000 after purchasing an additional 38,801 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Louisiana-Pacific by 252.2% during the 1st quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company's stock worth $62,746,000 after purchasing an additional 488,458 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LPX shares. DA Davidson dropped their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Truist Financial dropped their price objective on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Finally, Wall Street Zen lowered shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $106.13.

Insiders Place Their Bets

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 500 shares of Louisiana-Pacific stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the transaction, the director owned 29,728 shares in the company, valued at $3,002,528. This trade represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lizanne C. Gottung sold 1,179 shares of Louisiana-Pacific stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total transaction of $105,544.08. Following the completion of the transaction, the director owned 18,838 shares in the company, valued at approximately $1,686,377.76. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. 1.42% of the stock is owned by company insiders.

Louisiana-Pacific Trading Up 2.3%

NYSE LPX traded up $2.21 during mid-day trading on Friday, reaching $98.97. 966,650 shares of the stock were exchanged, compared to its average volume of 865,240. Louisiana-Pacific Corporation has a 1-year low of $78.82 and a 1-year high of $122.87. The business's fifty day simple moving average is $92.81 and its 200 day simple moving average is $91.40. The stock has a market capitalization of $6.89 billion, a PE ratio of 23.34, a PEG ratio of 2.16 and a beta of 1.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.02. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $751.15 million. During the same quarter last year, the business earned $2.09 earnings per share. Louisiana-Pacific's revenue was down 7.2% compared to the same quarter last year. On average, research analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, August 15th. Louisiana-Pacific's dividend payout ratio (DPR) is 26.42%.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.