UniSuper Management Pty Ltd Takes Position in Louisiana-Pacific Corporation $LPX

Key Points

• UniSuper Management Pty Ltd has made a new investment of $826,000 in Louisiana-Pacific Corporation, acquiring 8,985 shares during the first quarter.
• Several institutional investors have also increased their stakes in Louisiana-Pacific, including Palestra Capital Management LLC, which boosted its holdings by 173.5%.
• The company reported $0.99 EPS for the last quarter, exceeding estimates, but revenue decreased 7.2% year-over-year, indicating a potential challenge in market demand.

UniSuper Management Pty Ltd bought a new position in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 8,985 shares of the building manufacturing company's stock, valued at approximately $826,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its stake in Louisiana-Pacific by 76.1% during the 1st 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 during the last quarter. Fifth Third Bancorp grew its stake in 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 buying an additional 305 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Louisiana-Pacific by 67.2% during the 1st quarter. First Horizon Advisors Inc. now owns 1,204 shares of the building manufacturing company's stock worth $111,000 after buying an additional 484 shares during the last quarter. Breed s Hill Capital LLC purchased a new position in Louisiana-Pacific during the 4th quarter worth $207,000. Finally, Western Wealth Management LLC purchased a new position in Louisiana-Pacific during the 4th quarter worth $207,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $101.00, for a total value of $50,500.00. Following the completion of the transaction, the director directly owned 29,728 shares in the company, valued at approximately $3,002,528. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.42% of the stock is owned by company insiders.

Analyst Ratings Changes

LPX has been the topic of several research analyst reports. Truist Financial dropped their target price on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Wall Street Zen downgraded Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Finally, DA Davidson dropped their price target on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Louisiana-Pacific presently has an average rating of "Hold" and an average target price of $110.57.

Louisiana-Pacific Price Performance

NYSE LPX traded down $0.97 during trading hours on Tuesday, reaching $94.00. The company's stock had a trading volume of 512,129 shares, compared to its average volume of 743,822. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 2.12 and a beta of 1.84. 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. The company's 50-day moving average is $93.62 and its two-hundred day moving average is $91.16.

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

Louisiana-Pacific Announces Dividend

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

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.