Wedge Capital Management L L P NC Buys 5,951 Shares of Louisiana-Pacific Corporation $LPX

Key Points

• Wedge Capital Management increased its stake in Louisiana-Pacific Corporation to 75,495 shares, valued at approximately $6.49 million, reflecting an 8.6% rise during the second quarter.
• The company reported earnings per share of $0.99 for the last quarter, slightly beating expectations, although revenue decreased by 7.2% year-over-year to $755 million.
• Louisiana-Pacific declared a quarterly dividend of $0.28, with a dividend yield of 1.3%, and a payout ratio currently at 26.42%.

Wedge Capital Management L L P NC increased its stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 8.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 75,495 shares of the building manufacturing company's stock after purchasing an additional 5,951 shares during the quarter. Wedge Capital Management L L P NC owned about 0.11% of Louisiana-Pacific worth $6,492,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LPX. UMB Bank n.a. grew its position in shares of Louisiana-Pacific by 76.1% in the first quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock valued at $52,000 after purchasing an additional 242 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Louisiana-Pacific by 41.5% in the first quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock valued at $96,000 after purchasing an additional 305 shares in the last quarter. First Horizon Advisors Inc. grew its position in Louisiana-Pacific by 67.2% during the first 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 in the last quarter. Leavell Investment Management Inc. grew its position in Louisiana-Pacific by 11.6% during the first quarter. Leavell Investment Management Inc. now owns 2,231 shares of the building manufacturing company's stock worth $205,000 after buying an additional 231 shares in the last quarter. Finally, Wedmont Private Capital purchased a new stake in shares of Louisiana-Pacific in the 2nd quarter valued at about $205,000. 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 firm's stock in a transaction that occurred 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. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.42% of the company's stock.

Louisiana-Pacific Trading Down 1.5%

LPX stock traded down $1.34 during trading on Monday, hitting $86.97. 740,505 shares of the company traded hands, compared to its average volume of 750,673. The firm has a market capitalization of $6.06 billion, a PE ratio of 20.51, a P/E/G ratio of 1.97 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 50-day moving average of $93.40 and a 200-day moving average of $91.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84.

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

Louisiana-Pacific Dividend Announcement

The company also recently announced 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 of this dividend was Friday, August 15th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Louisiana-Pacific's dividend payout ratio is currently 26.42%.

Analysts Set New Price Targets

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

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.