Ritholtz Wealth Management Acquires 4,323 Shares of Louisiana-Pacific Corporation $LPX

Key Points

• Ritholtz Wealth Management increased its stake in Louisiana-Pacific Corporation by 35.1% in Q2, acquiring 4,323 additional shares and making its total holdings worth $1.43 million.
• Louisiana-Pacific's most recent earnings showed $0.99 EPS, surpassing estimates, but revenue declined year-over-year by 7.2% to $755 million.
• The company declared a quarterly dividend of $0.28 per share, resulting in an annualized yield of 1.2% with a payout ratio of 26.42%.

Ritholtz Wealth Management increased its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 35.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,653 shares of the building manufacturing company's stock after acquiring an additional 4,323 shares during the quarter. Ritholtz Wealth Management's holdings in Louisiana-Pacific were worth $1,432,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Chung Wu Investment Group LLC bought a new position in Louisiana-Pacific in the 2nd quarter worth $26,000. RMG Wealth Management LLC bought a new position in Louisiana-Pacific in the 2nd quarter worth $44,000. Beacon Capital Management LLC raised its holdings in Louisiana-Pacific by 570.6% in the 2nd quarter. Beacon Capital Management LLC now owns 684 shares of the building manufacturing company's stock worth $59,000 after acquiring an additional 582 shares during the period. Fifth Third Bancorp raised its holdings in Louisiana-Pacific by 41.5% in 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 period. Finally, First Horizon Advisors Inc. raised its holdings in Louisiana-Pacific by 67.2% in the 1st quarter. First Horizon Advisors Inc. now owns 1,204 shares of the building manufacturing company's stock worth $111,000 after acquiring an additional 484 shares during the period. Institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $90.09 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 1.67. The company's fifty day moving average is $92.90 and its two-hundred day moving average is $90.50. Louisiana-Pacific Corporation has a 52-week low of $78.82 and a 52-week high of $122.87. The firm has a market capitalization of $6.27 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 2.07 and a beta of 1.80.

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

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 15th. Louisiana-Pacific's payout ratio is 26.42%.

Insider Buying and Selling at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 500 shares of Louisiana-Pacific 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 sale, the director directly owned 29,728 shares in the company, valued at approximately $3,002,528. The trade was a 1.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.42% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Louisiana-Pacific from a "strong sell" rating to a "hold" rating in a report on Friday, October 10th. Truist Financial decreased their price target on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Weiss Ratings restated a "hold (c)" rating on shares of Louisiana-Pacific in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Finally, DA Davidson restated a "buy" rating and issued a $117.00 price target on shares of Louisiana-Pacific in a research report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $110.57.

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.

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