Truist Financial Corp Has $963,000 Holdings in Louisiana-Pacific Corporation $LPX

Key Points

• Truist Financial Corp reduced its stake in Louisiana-Pacific Corporation by 25.1%, now holding 11,197 shares valued at approximately $963,000.
• The company reported a net margin of 10.34% and quarterly earnings of $0.99 per share, surpassing analysts' estimates.
• Louisiana-Pacific declared a $0.28 quarterly dividend, translating to an annualized yield of 1.2% and a payout ratio of 26.42%.

Truist Financial Corp cut its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 25.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,197 shares of the building manufacturing company's stock after selling 3,759 shares during the period. Truist Financial Corp's holdings in Louisiana-Pacific were worth $963,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Beacon Capital Management LLC lifted its position in Louisiana-Pacific by 570.6% during the second 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 last quarter. Public Employees Retirement System of Ohio lifted its position in Louisiana-Pacific by 6.5% during the second quarter. Public Employees Retirement System of Ohio now owns 28,509 shares of the building manufacturing company's stock worth $2,451,000 after acquiring an additional 1,736 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Louisiana-Pacific by 8.6% during the second quarter. Wedge Capital Management L L P NC now owns 75,495 shares of the building manufacturing company's stock worth $6,492,000 after acquiring an additional 5,951 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Louisiana-Pacific by 11.5% during the second quarter. Assenagon Asset Management S.A. now owns 28,377 shares of the building manufacturing company's stock worth $2,440,000 after acquiring an additional 2,922 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Louisiana-Pacific by 16.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,357 shares of the building manufacturing company's stock worth $950,000 after purchasing an additional 1,436 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Price Performance

LPX stock opened at $89.70 on Tuesday. The company has a 50 day simple moving average of $93.00 and a 200 day simple moving average of $90.48. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.03 and a beta of 1.80. Louisiana-Pacific Corporation has a 1 year low of $78.82 and a 1 year high of $122.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 1.67.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.97 by $0.02. The business had revenue of $755.00 million during the quarter, compared to analysts' expectations of $751.15 million. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The firm's quarterly revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. Research analysts anticipate that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

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

Insider Transactions at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the company's stock in a transaction that occurred on 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 directly owned 29,728 shares in the company, valued at $3,002,528. This represents a 1.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LPX has been the subject of several analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Louisiana-Pacific in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. DA Davidson reiterated a "buy" rating and issued a $117.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, September 25th. Finally, Truist Financial dropped their price objective on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $110.57.

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.

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