Allianz Asset Management GmbH decreased its position in Louisiana-Pacific Co. (NYSE:LPX) by 26.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,021 shares of the construction company’s stock after selling 12,273 shares during the period. Allianz Asset Management GmbH’s holdings in Louisiana-Pacific were worth $1,008,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Louisiana-Pacific by 2.4% in the first quarter. Principal Financial Group Inc. now owns 642,424 shares of the construction company’s stock valued at $18,483,000 after buying an additional 15,148 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Louisiana-Pacific in the first quarter valued at approximately $341,000. Wesbanco Bank Inc. purchased a new stake in Louisiana-Pacific during the first quarter worth approximately $2,515,000. CIBC World Markets Inc. purchased a new stake in Louisiana-Pacific during the first quarter worth approximately $326,000. Finally, Moors & Cabot Inc. grew its stake in Louisiana-Pacific by 69.5% during the first quarter. Moors & Cabot Inc. now owns 14,452 shares of the construction company’s stock worth $416,000 after buying an additional 5,925 shares during the period. 92.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of Louisiana-Pacific stock traded up $0.59 during trading on Friday, hitting $30.19. 2,128,300 shares of the stock were exchanged, compared to its average volume of 1,720,757. The firm has a market capitalization of $4.09 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.95 and a beta of 1.48. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.57 and a current ratio of 5.68. Louisiana-Pacific Co. has a 12 month low of $23.39 and a 12 month high of $31.19.
Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Tuesday, August 7th. The construction company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.98 by $0.10. The business had revenue of $810.80 million during the quarter, compared to analyst estimates of $788.55 million. Louisiana-Pacific had a net margin of 16.85% and a return on equity of 28.21%. sell-side analysts forecast that Louisiana-Pacific Co. will post 2.95 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Friday, August 17th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, August 16th. This represents a $0.52 dividend on an annualized basis and a yield of 1.72%. Louisiana-Pacific’s dividend payout ratio is presently 22.32%.
Louisiana-Pacific announced that its board has initiated a share repurchase program on Tuesday, August 7th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 4th. BMO Capital Markets reissued a “sell” rating and set a $27.00 target price on shares of Louisiana-Pacific in a research report on Tuesday, April 24th. ValuEngine cut shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. DA Davidson raised shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 8th. Finally, Bank of America raised shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Louisiana-Pacific has an average rating of “Hold” and a consensus price target of $33.25.
In other Louisiana-Pacific news, Director Gary Cook sold 2,558 shares of the company’s stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $29.00, for a total transaction of $74,182.00. Following the completion of the sale, the director now directly owns 52,697 shares of the company’s stock, valued at $1,528,213. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lizanne C. Gottung sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $29.25, for a total transaction of $204,750.00. Following the sale, the director now directly owns 18,115 shares of the company’s stock, valued at $529,863.75. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.
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.
Further Reading: Earnings Per Share (EPS) Explained
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