William Blair Investment Management LLC Has $66.99 Million Position in Louisiana-Pacific Corporation $LPX

Key Points

• William Blair Investment Management cut its Louisiana-Pacific stake by 10.5% in the fourth quarter, but still held 829,439 shares valued at about $66.99 million.
• Wall Street sentiment remains constructive: the stock has a Moderate Buy consensus, with nine Buy ratings and an average price target of $97.25, even as some firms tweaked targets and TD Securities upgraded the stock to Buy.
• Louisiana-Pacific recently beat earnings expectations, posting $0.38 EPS versus $0.14 expected, while revenue came in slightly above forecasts at $574 million; the company also announced a $0.30 quarterly dividend payable May 28.

William Blair Investment Management LLC reduced its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 829,439 shares of the building manufacturing company's stock after selling 96,988 shares during the quarter. William Blair Investment Management LLC owned 1.19% of Louisiana-Pacific worth $66,985,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Eminence Capital LP raised its stake in Louisiana-Pacific by 7.9% during the third quarter. Eminence Capital LP now owns 3,115,959 shares of the building manufacturing company's stock worth $276,822,000 after acquiring an additional 228,521 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Louisiana-Pacific by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,549,853 shares of the building manufacturing company's stock worth $137,666,000 after purchasing an additional 28,535 shares during the last quarter. Boston Partners bought a new stake in shares of Louisiana-Pacific during the third quarter worth $100,770,000. Channing Capital Management LLC grew its holdings in shares of Louisiana-Pacific by 12.0% during the third quarter. Channing Capital Management LLC now owns 840,500 shares of the building manufacturing company's stock worth $74,670,000 after purchasing an additional 90,388 shares during the last quarter. Finally, Fernbridge Capital Management LP grew its holdings in shares of Louisiana-Pacific by 284.5% during the third quarter. Fernbridge Capital Management LP now owns 820,755 shares of the building manufacturing company's stock worth $72,916,000 after purchasing an additional 607,319 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LPX shares. Barclays decreased their target price on Louisiana-Pacific from $90.00 to $89.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. TD Securities upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating in a report on Thursday, May 7th. TD upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $86.00 target price on the stock in a report on Thursday, May 7th. Truist Financial restated a "buy" rating and set a $93.00 target price (down from $95.00) on shares of Louisiana-Pacific in a report on Friday, May 8th. Finally, Zacks Research upgraded Louisiana-Pacific from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.25.

Insider Transactions at Louisiana-Pacific

In related news, Director Lizanne M. Bruce sold 1,300 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $78.59, for a total value of $102,167.00. Following the transaction, the director owned 17,160 shares in the company, valued at $1,348,604.40. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by corporate insiders.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock opened at $70.49 on Monday. The business's 50-day simple moving average is $73.00 and its 200 day simple moving average is $80.52. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 59.73, a P/E/G ratio of 1.77 and a beta of 1.60. Louisiana-Pacific Corporation has a 12-month low of $66.12 and a 12-month high of $102.86. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.24. The business had revenue of $574.00 million for the quarter, compared to analysts' expectations of $569.99 million. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The firm's quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.27 earnings per share. As a group, research analysts anticipate that Louisiana-Pacific Corporation will post 2 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 14th will be issued a $0.30 dividend. The ex-dividend date is Thursday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.7%. Louisiana-Pacific's dividend payout ratio (DPR) is currently 101.69%.

Louisiana-Pacific 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.

Want to see what other hedge funds are holding LPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Louisiana-Pacific Corporation (NYSE:LPX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.