Wedge Capital Management L L P NC Buys 31,734 Shares of Louisiana-Pacific Corporation $LPX

Key Points

• Wedge Capital Management increased its Louisiana-Pacific stake by 35.8% in the second quarter, buying 31,734 shares to hold 120,492 shares valued at approximately $9.5 million. Institutional investors collectively own 94.73% of LPX.
• Louisiana-Pacific’s stock opened at $73.62, down 2.5%, after the company reported quarterly EPS of $0.40, below the $0.56 analyst consensus, while revenue declined 12.1% year over year to $665 million.
• The company declared a quarterly dividend of $0.30 per share, representing a 1.6% annualized yield. Analysts maintain a consensus “Moderate Buy” rating with a $94 price target, despite mixed individual recommendations.

Wedge Capital Management L L P NC raised its stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 35.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 120,492 shares of the building manufacturing company's stock after purchasing an additional 31,734 shares during the period. Wedge Capital Management L L P NC owned 0.17% of Louisiana-Pacific worth $9,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its position in shares of Louisiana-Pacific by 8.1% during the second quarter. Handelsbanken Fonder AB now owns 20,085 shares of the building manufacturing company's stock valued at $1,580,000 after buying an additional 1,500 shares during the last quarter. Valeo Financial Advisors LLC grew its position in shares of Louisiana-Pacific by 1.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 9,225 shares of the building manufacturing company's stock worth $726,000 after buying an additional 147 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Louisiana-Pacific by 30.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,486 shares of the building manufacturing company's stock worth $117,000 after acquiring an additional 349 shares in the last quarter. Moody National Bank Trust Division raised its stake in shares of Louisiana-Pacific by 59.3% during the 2nd quarter. Moody National Bank Trust Division now owns 20,006 shares of the building manufacturing company's stock worth $1,574,000 after acquiring an additional 7,445 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Louisiana-Pacific by 27.3% during the second quarter. Versant Capital Management Inc now owns 630 shares of the building manufacturing company's stock valued at $50,000 after acquiring an additional 135 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors.

Louisiana-Pacific Stock Down 2.5%

LPX stock opened at $73.62 on Thursday. The stock has a market capitalization of $5.15 billion, a PE ratio of 93.19, a price-to-earnings-growth ratio of 10.69 and a beta of 1.62. Louisiana-Pacific Corporation has a 52 week low of $66.12 and a 52 week high of $102.86. The company has a quick ratio of 1.67, a current ratio of 3.22 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $75.19 and a 200 day moving average of $77.21.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.16). Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The company had revenue of $665.00 million for the quarter, compared to analyst estimates of $667.31 million. During the same quarter in the previous year, the company posted $0.99 EPS. The company's revenue for the quarter was down 12.1% compared to the same quarter last year. Sell-side analysts forecast that Louisiana-Pacific Corporation will post 1.17 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.30 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. Louisiana-Pacific's dividend payout ratio (DPR) is 151.90%.

Analyst Ratings Changes

Several equities research analysts have weighed in on LPX shares. Weiss Ratings restated a "hold (c-)" rating on shares of Louisiana-Pacific in a research note on Wednesday, August 5th. BMO Capital Markets raised Louisiana-Pacific from a "market perform" rating to an "outperform" rating and set a $94.00 price target on the stock in a research report on Thursday, May 7th. TD Securities raised Louisiana-Pacific from a "hold" rating to a "buy" rating in a research report on Thursday, May 7th. TD boosted their target price on Louisiana-Pacific from $86.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group boosted their target price on Louisiana-Pacific from $66.00 to $74.00 and gave the stock a "sell" rating in a research note on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.00.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation NYSE: LPX is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.

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