PDT Partners LLC Cuts Stake in Louisiana-Pacific Corporation $LPX

Key Points

• PDT Partners LLC reduced its stake in Louisiana-Pacific Corporation by 37.8%, selling 13,150 shares and leaving it with a total of 21,665 shares worth approximately $1.99 million.
• The company announced a quarterly dividend of $0.28 per share, resulting in an annualized dividend yield of 1.2% with a payout ratio of 26.42%.
• Louisiana-Pacific's recent quarterly earnings surpassed estimates, reporting $0.99 EPS and $755 million in revenue, despite a year-over-year revenue decline of 7.2%.

PDT Partners LLC trimmed its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 37.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,665 shares of the building manufacturing company's stock after selling 13,150 shares during the quarter. PDT Partners LLC's holdings in Louisiana-Pacific were worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in LPX. CWM LLC boosted its holdings in shares of Louisiana-Pacific by 4.1% in the 1st quarter. CWM LLC now owns 2,919 shares of the building manufacturing company's stock worth $268,000 after acquiring an additional 115 shares in the last quarter. Xponance Inc. raised its holdings in shares of Louisiana-Pacific by 1.1% in the 1st quarter. Xponance Inc. now owns 11,370 shares of the building manufacturing company's stock valued at $1,046,000 after purchasing an additional 127 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in shares of Louisiana-Pacific by 3.1% during the first quarter. Kingswood Wealth Advisors LLC now owns 4,658 shares of the building manufacturing company's stock worth $425,000 after purchasing an additional 140 shares during the period. Capital Advisory Group Advisory Services LLC increased its stake in Louisiana-Pacific by 7.3% in the first quarter. Capital Advisory Group Advisory Services LLC now owns 2,543 shares of the building manufacturing company's stock valued at $234,000 after acquiring an additional 173 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Louisiana-Pacific by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 7,325 shares of the building manufacturing company's stock valued at $673,000 after buying an additional 195 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company's stock.

Insider Activity

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

Louisiana-Pacific Stock Up 2.3%

LPX traded up $2.21 during midday trading on Friday, hitting $98.97. The company had a trading volume of 966,650 shares, compared to its average volume of 865,240. Louisiana-Pacific Corporation has a 52 week low of $78.82 and a 52 week high of $122.87. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 2.21 and a beta of 1.84. The stock's 50 day moving average price is $92.81 and its 200 day moving average price is $91.33.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. The company had revenue of $755.00 million during the quarter, compared to the consensus estimate of $751.15 million. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.09 earnings per share. 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 company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, August 15th. This represents a $1.12 annualized dividend and a yield of 1.1%. Louisiana-Pacific's payout ratio is 26.42%.

Wall Street Analyst Weigh In

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

Louisiana-Pacific Company 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.