Ritholtz Wealth Management Raises Stock Holdings in Louisiana-Pacific Corporation (NYSE:LPX)

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Louisiana-Pacific by 76.1% during the first quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock worth $52,000 after buying an additional 242 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Louisiana-Pacific by 56.2% in the 4th quarter. First Horizon Advisors Inc. now owns 720 shares of the building manufacturing company's stock valued at $75,000 after purchasing an additional 259 shares during the period. Fifth Third Bancorp boosted its stake in shares of 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 period. GeoWealth Management LLC boosted its position in Louisiana-Pacific by 1,184.9% during the fourth quarter. GeoWealth Management LLC now owns 938 shares of the building manufacturing company's stock worth $97,000 after purchasing an additional 865 shares during the period. Finally, Covestor Ltd raised its holdings in Louisiana-Pacific by 142.6% in the 4th quarter. Covestor Ltd now owns 1,043 shares of the building manufacturing company's stock valued at $108,000 after acquiring an additional 613 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Insiders Place Their Bets

In other Louisiana-Pacific news, 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 transaction, the director now directly owns 18,838 shares of the company's stock, valued at $1,686,377.76. The trade was a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.42% of the company's stock.

Louisiana-Pacific Trading Up 0.6%

LPX stock traded up $0.53 during mid-day trading on Wednesday, reaching $86.51. The company's stock had a trading volume of 881,327 shares, compared to its average volume of 695,166. Louisiana-Pacific Corporation has a 12 month low of $78.82 and a 12 month high of $122.87. The company has a current ratio of 3.03, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. The business's 50 day moving average price is $89.31 and its 200 day moving average price is $99.29. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.31 and a beta of 1.89.

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

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Tuesday, May 20th. Louisiana-Pacific's dividend payout ratio (DPR) is currently 19.65%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LPX. TD Securities dropped their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating for the company in a research note on Thursday, February 20th. DA Davidson dropped their target price on shares of Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Loop Capital upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective on the stock in a research report on Wednesday, May 7th. Royal Bank Of Canada increased 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 reduced their price target on Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $107.38.

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.