Ensign Peak Advisors Inc increased its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 20.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,525 shares of the building manufacturing company’s stock after acquiring an additional 16,605 shares during the period. Ensign Peak Advisors Inc owned about 0.10% of Louisiana-Pacific worth $6,000,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Platinum Investment Management Ltd. raised its holdings in shares of Louisiana-Pacific by 109.3% in the 1st quarter. Platinum Investment Management Ltd. now owns 4,289,323 shares of the building manufacturing company’s stock worth $237,886,000 after acquiring an additional 2,240,123 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Louisiana-Pacific by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,914,714 shares of the building manufacturing company’s stock worth $161,644,000 after acquiring an additional 52,557 shares during the last quarter. FMR LLC raised its holdings in shares of Louisiana-Pacific by 39.8% in the 2nd quarter. FMR LLC now owns 2,210,766 shares of the building manufacturing company’s stock worth $133,286,000 after acquiring an additional 628,881 shares during the last quarter. Geode Capital Management LLC grew its position in Louisiana-Pacific by 11.0% in the 1st quarter. Geode Capital Management LLC now owns 1,791,955 shares of the building manufacturing company’s stock worth $99,381,000 after purchasing an additional 176,877 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in Louisiana-Pacific by 3.2% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 1,294,371 shares of the building manufacturing company’s stock worth $71,786,000 after purchasing an additional 39,905 shares in the last quarter. Institutional investors own 94.61% of the company’s stock.
In other Louisiana-Pacific news, Director Stephen E. Macadam acquired 1,850 shares of the business’s stock in a transaction that occurred on Monday, August 9th. The stock was bought at an average cost of $56.24 per share, with a total value of $104,044.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Alan Haughie bought 12,470 shares of the stock in a transaction on Thursday, August 5th. The stock was purchased at an average price of $55.94 per share, for a total transaction of $697,571.80. Following the completion of the purchase, the chief financial officer now directly owns 44,228 shares in the company, valued at $2,474,114.32. The disclosure for this purchase can be found here. 0.60% of the stock is currently owned by company insiders.
Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Monday, August 2nd. The building manufacturing company reported $4.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.25 by $0.49. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.22 billion. Louisiana-Pacific had a net margin of 31.30% and a return on equity of 91.77%. Louisiana-Pacific’s revenue for the quarter was up 141.8% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. Equities analysts expect that Louisiana-Pacific Co. will post 13.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Tuesday, August 10th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 9th. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.08%. Louisiana-Pacific’s dividend payout ratio (DPR) is 16.71%.
A number of brokerages have issued reports on LPX. Zacks Investment Research downgraded shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a research report on Tuesday, July 27th. TD Securities reduced their price objective on shares of Louisiana-Pacific from $70.00 to $67.00 and set a “hold” rating for the company in a research report on Wednesday, August 4th. Finally, The Goldman Sachs Group began coverage on shares of Louisiana-Pacific in a research report on Thursday, July 15th. They issued a “sell” rating and a $54.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.29.
Louisiana-Pacific Corp. engages in designing, manufacturing and marketing of products for the new home construction, repair and remodeling and outdoor structures markets. It operates through the following four segments: Siding, Oriented Strand Board (OSB), Engineered Wood Products, and South America.
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