O Shaughnessy Asset Management LLC reduced its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 92.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,410 shares of the construction company’s stock after selling 197,419 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Louisiana-Pacific were worth $407,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Synovus Financial Corp lifted its holdings in shares of Louisiana-Pacific by 174.8% during the 2nd quarter. Synovus Financial Corp now owns 4,672 shares of the construction company’s stock valued at $127,000 after purchasing an additional 2,972 shares in the last quarter. Willingdon Wealth Management bought a new position in shares of Louisiana-Pacific during the 3rd quarter valued at about $126,000. First Hawaiian Bank bought a new position in shares of Louisiana-Pacific during the 3rd quarter valued at about $165,000. TRUE Private Wealth Advisors bought a new position in shares of Louisiana-Pacific during the 3rd quarter valued at about $168,000. Finally, NumerixS Investment Technologies Inc lifted its holdings in shares of Louisiana-Pacific by 36.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,250 shares of the construction company’s stock valued at $249,000 after purchasing an additional 2,450 shares in the last quarter. Institutional investors own 92.86% of the company’s stock.
Several equities analysts have recently weighed in on the company. Longbow Research reiterated a “hold” rating on shares of Louisiana-Pacific in a report on Tuesday, October 9th. ValuEngine cut Louisiana-Pacific from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Zacks Investment Research cut Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a report on Friday, August 10th. Seaport Global Securities assumed coverage on Louisiana-Pacific in a report on Tuesday, October 23rd. They set a “buy” rating and a $31.00 price objective on the stock. Finally, BMO Capital Markets upgraded Louisiana-Pacific from an “underperform” rating to a “market perform” rating and cut their price objective for the company from $27.00 to $24.00 in a report on Monday, October 22nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Louisiana-Pacific presently has a consensus rating of “Hold” and an average target price of $32.13.
Louisiana-Pacific (NYSE:LPX) last released its earnings results on Tuesday, November 6th. The construction company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.17. The firm had revenue of $736.80 million for the quarter, compared to analysts’ expectations of $724.92 million. Louisiana-Pacific had a return on equity of 27.84% and a net margin of 17.23%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. As a group, equities analysts expect that Louisiana-Pacific Co. will post 2.94 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, November 15th. Louisiana-Pacific’s payout ratio is 22.32%.
Louisiana-Pacific announced that its board has approved a stock buyback plan on Tuesday, August 7th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 3.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other Louisiana-Pacific news, CEO William Bradley Southern sold 12,042 shares of the business’s 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 owns 196,518 shares in the company, valued at approximately $6,092,058. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Emory Kinney sold 11,815 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $31.05, for a total value of $366,855.75. Following the completion of the sale, the chief financial officer now owns 32,042 shares in the company, valued at approximately $994,904.10. The disclosure for this sale can be found here. Insiders sold a total of 31,287 shares of company stock worth $975,986 in the last 90 days. Company insiders own 1.48% of the company’s stock.
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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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