Louisiana-Pacific Corporation $LPX Shares Sold by Wellington Management Group LLP

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 holdings in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,341 shares of the building manufacturing company's stock after selling 18,758 shares during the quarter. Wellington Management Group LLP owned approximately 0.16% of Louisiana-Pacific worth $10,333,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. 59 North Capital Management LP boosted its position in Louisiana-Pacific by 13.4% during the 4th quarter. 59 North Capital Management LP now owns 1,982,826 shares of the building manufacturing company's stock valued at $205,322,000 after acquiring an additional 235,069 shares in the last quarter. Eminence Capital LP raised its holdings in Louisiana-Pacific by 7.7% in the fourth quarter. Eminence Capital LP now owns 1,445,106 shares of the building manufacturing company's stock worth $149,641,000 after purchasing an additional 102,897 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Louisiana-Pacific by 2.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,266,145 shares of the building manufacturing company's stock valued at $131,109,000 after buying an additional 24,285 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in Louisiana-Pacific by 1,736.2% during the fourth quarter. Alyeska Investment Group L.P. now owns 891,351 shares of the building manufacturing company's stock valued at $92,299,000 after acquiring an additional 842,809 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Louisiana-Pacific by 27.1% in the fourth quarter. Northern Trust Corp now owns 781,984 shares of the building manufacturing company's stock valued at $80,974,000 after acquiring an additional 166,594 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $101.00, for a total value of $50,500.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lizanne C. Gottung sold 1,179 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total value of $105,544.08. Following the completion of the sale, the director directly owned 18,838 shares in the company, valued at approximately $1,686,377.76. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.42% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LPX. Royal Bank Of Canada raised their price objective on Louisiana-Pacific from $114.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Loop Capital upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a research note on Wednesday, May 7th. Truist Financial decreased their price objective on shares of 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 downgraded shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Finally, DA Davidson decreased their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Louisiana-Pacific has a consensus rating of "Hold" and an average target price of $106.13.

Louisiana-Pacific Stock Performance

NYSE LPX traded down $0.49 on Monday, reaching $95.21. 707,262 shares of the company's stock traded hands, compared to its average volume of 1,027,189. 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 firm has a market cap of $6.63 billion, a price-to-earnings ratio of 22.46, a P/E/G ratio of 2.12 and a beta of 1.84. The stock has a 50 day moving average price of $92.05 and a 200-day moving average price of $91.70.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its quarterly 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 return on equity of 18.67% and a net margin of 10.34%.The company had revenue of $755.00 million during the quarter, compared to analysts' expectations of $751.15 million. During the same period last year, the business earned $2.09 earnings per share. Louisiana-Pacific's quarterly revenue was down 7.2% on a year-over-year basis. Equities research analysts predict that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

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

Louisiana-Pacific 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.