Wellington Management Group LLP Lowers Stock Position in Louisiana-Pacific Corporation $LPX

Key Points

• Wellington Management Group LLP reduced its stake in Louisiana-Pacific Corporation by 14.3%, selling 18,758 shares and bringing its total ownership to 112,341 shares valued at approximately $10.3 million.
• Several hedge funds, including UMB Bank n.a. and Fifth Third Bancorp, increased their positions in Louisiana-Pacific, showcasing significant investment interest in the company.
• Louisiana-Pacific announced a quarterly dividend of $0.28 per share, reflecting an annualized amount of $1.12 with a yield of 1.2%.

Wellington Management Group LLP lowered its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 14.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 112,341 shares of the building manufacturing company's stock after selling 18,758 shares during the quarter. Wellington Management Group LLP owned about 0.16% of Louisiana-Pacific worth $10,333,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Louisiana-Pacific by 18.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 136,939 shares of the building manufacturing company's stock valued at $12,486,000 after purchasing an additional 21,462 shares during the period. CCM Investment Group LLC purchased a new stake in shares of Louisiana-Pacific in the first quarter valued at about $633,000. Sierra Summit Advisors LLC purchased a new stake in shares of Louisiana-Pacific in the first quarter valued at about $511,000. American Century Companies Inc. grew its holdings in shares of Louisiana-Pacific by 1.4% in the first quarter. American Century Companies Inc. now owns 525,686 shares of the building manufacturing company's stock valued at $48,353,000 after purchasing an additional 7,381 shares during the period. Finally, Putney Financial Group LLC purchased a new stake in shares of Louisiana-Pacific in the fourth quarter valued at about $389,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

LPX has been the subject of a number of analyst reports. Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a report on Wednesday, May 7th. Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Royal Bank Of Canada upped their target price on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Truist Financial decreased 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. Finally, DA Davidson decreased 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. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $106.13.

Insider Activity

In other news, Director Ozey K. Horton, Jr. sold 500 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $101.00, for a total transaction of $50,500.00. Following the sale, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lizanne C. Gottung sold 1,179 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total transaction of $105,544.08. Following the sale, the director directly owned 18,838 shares in the company, valued at $1,686,377.76. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by corporate insiders.

Louisiana-Pacific Stock Down 2.0%

Shares of LPX traded down $1.88 during mid-day trading on Tuesday, hitting $93.23. 586,117 shares of the company's stock were exchanged, compared to its average volume of 986,712. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 2.12 and a beta of 1.84. Louisiana-Pacific Corporation has a fifty-two week low of $78.82 and a fifty-two week high of $122.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84. The stock's 50-day moving average is $92.30 and its 200-day moving average is $91.60.

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

Louisiana-Pacific Dividend Announcement

The firm 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. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 15th. Louisiana-Pacific's dividend payout ratio is currently 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.