UniSuper Management Pty Ltd Makes New $826,000 Investment 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 purchased a new position in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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. 59 North Capital Management LP grew its stake in shares of Louisiana-Pacific by 32.1% in the 1st quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company's stock valued at $240,863,000 after purchasing an additional 635,817 shares during the last quarter. Palestra Capital Management LLC lifted its holdings in shares of Louisiana-Pacific by 173.5% during the first quarter. Palestra Capital Management LLC now owns 911,621 shares of the building manufacturing company's stock worth $83,851,000 after purchasing an additional 578,248 shares during the period. Allianz Asset Management GmbH grew its position in Louisiana-Pacific by 252.2% in the 1st quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company's stock valued at $62,746,000 after buying an additional 488,458 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Louisiana-Pacific by 430.3% in the 4th quarter. Point72 Asset Management L.P. now owns 375,900 shares of the building manufacturing company's stock valued at $38,924,000 after buying an additional 305,021 shares during the period. Finally, Nuveen LLC acquired a new position in Louisiana-Pacific in the 1st quarter valued at $25,409,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Price Performance

Shares of LPX opened at $95.33 on Thursday. Louisiana-Pacific Corporation has a twelve month low of $78.82 and a twelve month high of $122.87. The stock's 50 day moving average is $93.22 and its two-hundred day moving average is $91.33. The firm has a market capitalization of $6.64 billion, a PE ratio of 22.48, a P/E/G ratio of 2.13 and a beta of 1.84. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20.

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

Louisiana-Pacific Announces Dividend

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

Insider Activity

In other news, Director Ozey K. Horton, Jr. sold 500 shares of Louisiana-Pacific stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $101.00, for a total transaction of $50,500.00. Following the completion of the transaction, the director owned 29,728 shares of the company's stock, valued at $3,002,528. The trade was a 1.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.42% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LPX has been the subject of several recent analyst reports. DA Davidson reduced their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Truist Financial lowered their price objective on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Finally, Wall Street Zen lowered Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Louisiana-Pacific presently has a consensus rating of "Hold" and an average target price of $106.13.

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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