Ritholtz Wealth Management Buys 4,949 Shares of Louisiana-Pacific Corporation (NYSE:LPX)

Ritholtz Wealth Management grew its holdings in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 67.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,330 shares of the building manufacturing company's stock after purchasing an additional 4,949 shares during the period. Ritholtz Wealth Management's holdings in Louisiana-Pacific were worth $1,134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp lifted its position in Louisiana-Pacific by 51.2% during the fourth quarter. Van ECK Associates Corp now owns 58,149 shares of the building manufacturing company's stock valued at $6,021,000 after purchasing an additional 19,681 shares in the last quarter. Csenge Advisory Group purchased a new position in Louisiana-Pacific during the fourth quarter valued at $452,000. Principal Financial Group Inc. lifted its position in Louisiana-Pacific by 215.0% during the fourth quarter. Principal Financial Group Inc. now owns 470,167 shares of the building manufacturing company's stock valued at $48,686,000 after purchasing an additional 320,912 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Louisiana-Pacific by 7.1% during the fourth quarter. Sanctuary Advisors LLC now owns 1,862 shares of the building manufacturing company's stock valued at $193,000 after purchasing an additional 124 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Louisiana-Pacific by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 2,202 shares of the building manufacturing company's stock valued at $228,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Insider Transactions at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 1,179 shares of Louisiana-Pacific stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total value of $105,544.08. Following the sale, the director now directly owns 18,838 shares of the company's stock, valued at approximately $1,686,377.76. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.42% of the company's stock.

Louisiana-Pacific Price Performance

NYSE:LPX traded up $0.13 on Friday, reaching $86.66. 1,618,366 shares of the company's stock traded hands, compared to its average volume of 696,044. The company has a quick ratio of 1.59, a current ratio of 3.03 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $89.27 and a 200-day simple moving average of $98.65. The firm has a market cap of $6.03 billion, a PE ratio of 15.20, a P/E/G ratio of 1.28 and a beta of 1.89. Louisiana-Pacific Corporation has a 12 month low of $78.82 and a 12 month high of $122.87.

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

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders 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 dividend yield of 1.29%. Louisiana-Pacific's dividend payout ratio (DPR) is 19.65%.

Analysts Set New Price Targets

Several research firms recently weighed in on LPX. Loop Capital upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research report on Wednesday, May 7th. Royal Bank Of Canada lifted their target price on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Truist Financial lowered their target price on Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Louisiana-Pacific has a consensus rating of "Hold" and a consensus price target of $107.38.

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.