Geode Capital Management LLC Sells 42,679 Shares of Louisiana-Pacific Corporation $LPX

Geode Capital Management LLC lowered its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,101,005 shares of the building manufacturing company’s stock after selling 42,679 shares during the quarter. Geode Capital Management LLC’s holdings in Louisiana-Pacific were worth $94,691,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. CWM LLC lifted its position in shares of Louisiana-Pacific by 4.1% during the first quarter. CWM LLC now owns 2,919 shares of the building manufacturing company’s stock worth $268,000 after purchasing an additional 115 shares in the last quarter. Moran Wealth Management LLC lifted its holdings in Louisiana-Pacific by 2.4% during the 2nd 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 in the last quarter. Advisors Asset Management Inc. boosted its position in Louisiana-Pacific by 2.2% in the 1st quarter. Advisors Asset Management Inc. now owns 7,962 shares of the building manufacturing company’s stock valued at $732,000 after buying an additional 170 shares during the last quarter. Wealthspire Advisors LLC boosted its position in Louisiana-Pacific by 3.3% in the 1st quarter. Wealthspire Advisors LLC now owns 6,292 shares of the building manufacturing company’s stock valued at $579,000 after buying an additional 200 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its position in shares of Louisiana-Pacific by 3.6% during the first quarter. Nations Financial Group Inc. IA ADV now owns 6,215 shares of the building manufacturing company’s stock worth $572,000 after acquiring an additional 218 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LPX. Vertical Research initiated coverage on Louisiana-Pacific in a report on Monday, October 20th. They issued a “buy” rating on the stock. TD Securities reduced their target price on shares of Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Zacks Research downgraded shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Wall Street Zen cut shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. Finally, DA Davidson reiterated a “buy” rating and issued a $117.00 price objective on shares of Louisiana-Pacific in a report on Thursday. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Louisiana-Pacific presently has a consensus rating of “Hold” and an average price target of $106.33.

Louisiana-Pacific Stock Up 4.1%

Shares of Louisiana-Pacific stock opened at $77.74 on Friday. Louisiana-Pacific Corporation has a 1 year low of $73.42 and a 1 year high of $122.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 1.67. The company has a market capitalization of $5.41 billion, a P/E ratio of 18.34 and a beta of 1.80. The business has a 50-day moving average of $86.08 and a two-hundred day moving average of $90.00.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Wednesday, November 5th. The building manufacturing company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The business had revenue of $663.00 million during the quarter, compared to analyst estimates of $670.26 million. During the same quarter in the prior year, the firm posted $1.22 earnings per share. Louisiana-Pacific’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, equities analysts predict that Louisiana-Pacific Corporation will post 5.27 EPS for the current year.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.4%. Louisiana-Pacific’s dividend payout ratio is currently 36.25%.

Insider Activity

In related news, Director Stephen E. Macadam acquired 3,200 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $78.06 per share, for a total transaction of $249,792.00. Following the completion of the acquisition, the director directly owned 41,149 shares in the company, valued at approximately $3,212,090.94. The trade was a 8.43% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.42% of the stock is owned by corporate insiders.

About Louisiana-Pacific

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.