Allianz Asset Management GmbH Has $23.23 Million Stock Position in Louisiana-Pacific Corporation $LPX

Allianz Asset Management GmbH lowered its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 60.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 270,094 shares of the building manufacturing company’s stock after selling 412,070 shares during the quarter. Allianz Asset Management GmbH’s holdings in Louisiana-Pacific were worth $23,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ritholtz Wealth Management boosted its holdings in Louisiana-Pacific by 35.1% during the second quarter. Ritholtz Wealth Management now owns 16,653 shares of the building manufacturing company’s stock worth $1,432,000 after buying an additional 4,323 shares during the last quarter. Bayforest Capital Ltd boosted its holdings in Louisiana-Pacific by 129.2% during the second quarter. Bayforest Capital Ltd now owns 5,939 shares of the building manufacturing company’s stock worth $511,000 after buying an additional 3,348 shares during the last quarter. TD Asset Management Inc boosted its holdings in Louisiana-Pacific by 19.5% during the second quarter. TD Asset Management Inc now owns 22,690 shares of the building manufacturing company’s stock worth $1,951,000 after buying an additional 3,706 shares during the last quarter. Moran Wealth Management LLC boosted its holdings in Louisiana-Pacific by 2.4% during the second quarter. Moran Wealth Management LLC now owns 6,603 shares of the building manufacturing company’s stock worth $568,000 after buying an additional 156 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Louisiana-Pacific by 28.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 175,328 shares of the building manufacturing company’s stock worth $16,004,000 after buying an additional 38,389 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

LPX has been the topic of several recent analyst reports. Truist Financial cut their price objective on Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, July 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Louisiana-Pacific in a report on Wednesday, October 8th. Wall Street Zen cut Louisiana-Pacific from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. DA Davidson reiterated a “buy” rating and set a $117.00 price objective on shares of Louisiana-Pacific in a report on Thursday, September 25th. Finally, Zacks Research upgraded Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $110.57.

Insider Buying and Selling at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 500 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $101.00, for a total transaction of $50,500.00. Following the transaction, the director owned 29,728 shares of the company’s stock, valued at $3,002,528. The trade was a 1.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.42% of the stock is owned by company insiders.

Louisiana-Pacific Trading Down 0.2%

NYSE LPX opened at $90.09 on Monday. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.06 and a beta of 1.80. The stock’s 50 day moving average price is $92.90 and its two-hundred day moving average price is $90.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84. Louisiana-Pacific Corporation has a 52 week low of $78.82 and a 52 week high of $122.87.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $751.15 million. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.09 EPS. As a group, analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

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

Louisiana-Pacific Company 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.