Patten & Patten Inc. TN Has $19.94 Million Stake in Louisiana-Pacific Corporation (NYSE:LPX)

Key Points

• Patten & Patten Inc. TN increased its holdings in Louisiana-Pacific Corporation by 3.8%, owning 216,754 shares valued at approximately $19.9 million as of its latest SEC filing.
• Multiple institutional investors, including UMB Bank and Fifth Third Bancorp, have significantly raised their stakes in Louisiana-Pacific, reflecting strong interest in the stock.
• Louisiana-Pacific recently declared a quarterly dividend of $0.28 per share, representing an annualized dividend yield of 1.25%, with a dividend payout ratio of 19.65%.

Patten & Patten Inc. TN boosted its position in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,754 shares of the building manufacturing company's stock after acquiring an additional 7,845 shares during the period. Louisiana-Pacific accounts for 1.3% of Patten & Patten Inc. TN's investment portfolio, making the stock its 19th biggest holding. Patten & Patten Inc. TN owned approximately 0.31% of Louisiana-Pacific worth $19,937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LPX. UMB Bank n.a. lifted its position in Louisiana-Pacific by 76.1% during the 1st quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock worth $52,000 after acquiring an additional 242 shares during the last quarter. Fifth Third Bancorp lifted its position in Louisiana-Pacific by 41.5% during the 1st quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock worth $96,000 after acquiring an additional 305 shares during the last quarter. GeoWealth Management LLC lifted its position in Louisiana-Pacific by 1,184.9% during the 4th quarter. GeoWealth Management LLC now owns 938 shares of the building manufacturing company's stock worth $97,000 after acquiring an additional 865 shares during the last quarter. Covestor Ltd raised its position in shares of Louisiana-Pacific by 142.6% during the fourth quarter. Covestor Ltd now owns 1,043 shares of the building manufacturing company's stock valued at $108,000 after buying an additional 613 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Louisiana-Pacific by 67.2% during the first quarter. First Horizon Advisors Inc. now owns 1,204 shares of the building manufacturing company's stock valued at $111,000 after buying an additional 484 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock traded down $0.05 during trading hours on Thursday, hitting $90.77. 504,365 shares of the stock were exchanged, compared to its average volume of 711,993. Louisiana-Pacific Corporation has a 12 month low of $78.82 and a 12 month high of $122.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 3.03. The business's 50-day moving average is $89.80 and its two-hundred day moving average is $95.02. The stock has a market capitalization of $6.32 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.54 and a beta of 1.84.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The building manufacturing company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.13 by $0.14. Louisiana-Pacific had a net margin of 13.74% and a return on equity of 23.75%. The business had revenue of $724.00 million for the quarter, compared to analysts' expectations of $711.66 million. During the same period in the prior year, the firm earned $1.53 earnings per share. Louisiana-Pacific's revenue was up .0% compared to the same quarter last year. Equities research analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were issued a $0.28 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $1.12 annualized dividend and a yield of 1.23%. Louisiana-Pacific's dividend payout ratio (DPR) is presently 19.65%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Louisiana-Pacific from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. DA Davidson cut 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 report on Wednesday, June 25th. Truist Financial dropped their price target on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price target for the company in a research report on Wednesday, May 7th. Finally, Royal Bank Of Canada increased their price target on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $106.13.

Insiders Place Their Bets

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 1,179 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total value of $105,544.08. Following the sale, the director directly owned 18,838 shares in the company, valued at approximately $1,686,377.76. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.42% of the company's stock.

Louisiana-Pacific Profile

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.