Bowling Portfolio Management LLC lowered its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 7.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 62,263 shares of the construction company’s stock after selling 5,060 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Louisiana-Pacific were worth $1,649,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Louisiana-Pacific by 6.5% in the 2nd quarter. BlackRock Inc. now owns 18,429,014 shares of the construction company’s stock valued at $501,638,000 after acquiring an additional 1,122,642 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Louisiana-Pacific by 7.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,518,427 shares of the construction company’s stock valued at $122,991,000 after acquiring an additional 321,522 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Louisiana-Pacific by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,285,042 shares of the construction company’s stock valued at $116,638,000 after acquiring an additional 39,544 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Louisiana-Pacific by 27.8% in the 2nd quarter. Acadian Asset Management LLC now owns 2,860,671 shares of the construction company’s stock valued at $77,868,000 after acquiring an additional 623,093 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in shares of Louisiana-Pacific by 34.4% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,606,707 shares of the construction company’s stock valued at $69,051,000 after acquiring an additional 667,019 shares during the last quarter. Institutional investors and hedge funds own 92.18% of the company’s stock.
In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $29.25, for a total transaction of $204,750.00. Following the completion of the sale, the director now directly owns 18,115 shares of the company’s stock, valued at approximately $529,863.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Bradley Southern sold 12,042 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $31.00, for a total value of $373,302.00. Following the sale, the chief executive officer now directly owns 196,518 shares of the company’s stock, valued at $6,092,058. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,287 shares of company stock valued at $1,180,736. Insiders own 1.48% of the company’s stock.
Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. The firm had revenue of $810.80 million during the quarter, compared to analysts’ expectations of $788.55 million. Louisiana-Pacific had a return on equity of 28.21% and a net margin of 16.85%. As a group, research analysts forecast that Louisiana-Pacific Co. will post 2.93 earnings per share for the current fiscal year.
Louisiana-Pacific announced that its board has authorized a share repurchase program on Tuesday, August 7th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 3.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
LPX has been the subject of a number of research analyst reports. Zacks Investment Research cut Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, July 16th. ValuEngine cut Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, Longbow Research reissued a “hold” rating on shares of Louisiana-Pacific in a research report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $33.25.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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