4,117 Shares in Louisiana-Pacific Corporation $LPX Purchased by United Services Automobile Association

Key Points

• United Services Automobile Association acquired a new stake in Louisiana-Pacific Corporation, purchasing 4,117 shares valued at approximately $377,000 during the first quarter.
• Institutional investors now own 94.73% of Louisiana-Pacific's stock, with other large investors also increasing their holdings significantly in recent months.
• Louisiana-Pacific recently reported quarterly earnings, with an EPS of $0.99, surpassing analysts' expectations, and announced a quarterly dividend of $0.28 per share.

United Services Automobile Association purchased a new stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,117 shares of the building manufacturing company's stock, valued at approximately $377,000.

Several other large investors have also recently added to or reduced their stakes in the stock. 59 North Capital Management LP lifted its position in shares of Louisiana-Pacific by 32.1% during the first quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company's stock worth $240,863,000 after purchasing an additional 635,817 shares in the last quarter. Eminence Capital LP lifted its position in shares of Louisiana-Pacific by 16.0% during the first quarter. Eminence Capital LP now owns 1,675,943 shares of the building manufacturing company's stock worth $154,153,000 after purchasing an additional 230,837 shares in the last quarter. Palestra Capital Management LLC lifted its position 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 in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Louisiana-Pacific by 6.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 684,998 shares of the building manufacturing company's stock worth $63,007,000 after purchasing an additional 38,801 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Louisiana-Pacific by 252.2% during the first quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company's stock worth $62,746,000 after purchasing an additional 488,458 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the completion of the sale, the director owned 29,728 shares of the company's stock, valued at $3,002,528. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.42% of the company's stock.

Louisiana-Pacific Stock Down 0.3%

Shares of NYSE:LPX traded down $0.27 during midday trading on Wednesday, reaching $93.67. The company had a trading volume of 134,978 shares, compared to its average volume of 740,670. 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 stock's fifty day moving average price is $93.62 and its 200-day moving average price is $91.16. The stock has a market capitalization of $6.52 billion, a P/E ratio of 22.12, a PEG ratio of 2.12 and a beta of 1.84. Louisiana-Pacific Corporation has a one year low of $78.82 and a one year high of $122.87.

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

Louisiana-Pacific Dividend Announcement

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

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.