Walleye Capital LLC Raises Holdings in Louisiana-Pacific Corporation $LPX

Key Points

• Walleye Capital LLC increased its position in Louisiana-Pacific Corporation by 162.6% in Q1, owning 8,106 shares valued at approximately $746,000.
• Louisiana-Pacific reported $0.99 EPS for the last quarter, exceeding estimates of $0.97, despite a 7.2% revenue decline from the previous year.
• The company declared a quarterly dividend of $0.28 paid on August 29, 2023, yielding 1.2% annually with a payout ratio of 26.42%.

Walleye Capital LLC increased its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 162.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,106 shares of the building manufacturing company's stock after purchasing an additional 5,019 shares during the quarter. Walleye Capital LLC's holdings in Louisiana-Pacific were worth $746,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of 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 purchasing an additional 242 shares in 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 purchasing an additional 305 shares in 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 purchasing an additional 484 shares in the last quarter. Breed s Hill Capital LLC acquired a new position in Louisiana-Pacific during the 4th quarter worth $207,000. Finally, Western Wealth Management LLC acquired a new position in Louisiana-Pacific during the 4th quarter worth $207,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on LPX shares. Royal Bank Of Canada boosted their target price on Louisiana-Pacific from $114.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Truist Financial lowered their price objective on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Wall Street Zen cut Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Loop Capital raised Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a research report on Wednesday, May 7th. Finally, DA Davidson lowered their price objective on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $106.13.

Insider Activity at Louisiana-Pacific

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 1,179 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total transaction of $105,544.08. Following the completion of the sale, the director directly owned 18,838 shares of the company's stock, valued at $1,686,377.76. This represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $50,500.00. Following the sale, the director directly owned 29,728 shares of the company's stock, valued at approximately $3,002,528. This represents a 1.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.42% of the stock is owned by corporate insiders.

Louisiana-Pacific Stock Performance

Shares of NYSE LPX traded up $2.74 during trading hours on Thursday, reaching $95.77. The stock had a trading volume of 416,919 shares, compared to its average volume of 748,985. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 2.12 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 Corporation has a fifty-two week low of $78.82 and a fifty-two week high of $122.87. The firm has a 50-day moving average of $92.41 and a 200-day moving average of $91.60.

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

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.28 dividend. The ex-dividend date of this dividend 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%.

About Louisiana-Pacific

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.