Legal & General Group Plc Sells 21,830 Shares of Louisiana-Pacific Corporation $LPX

Legal & General Group Plc lowered its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,211 shares of the building manufacturing company’s stock after selling 21,830 shares during the quarter. Legal & General Group Plc’s holdings in Louisiana-Pacific were worth $8,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Louisiana-Pacific in the second quarter worth about $26,000. Larson Financial Group LLC grew its holdings in Louisiana-Pacific by 291.2% during the 3rd quarter. Larson Financial Group LLC now owns 536 shares of the building manufacturing company’s stock valued at $48,000 after buying an additional 399 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Louisiana-Pacific during the 4th quarter valued at approximately $52,000. Danske Bank A S bought a new stake in Louisiana-Pacific in the 3rd quarter worth approximately $80,000. Finally, EverSource Wealth Advisors LLC increased its stake in Louisiana-Pacific by 496.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 954 shares of the building manufacturing company’s stock worth $82,000 after acquiring an additional 794 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

LPX has been the subject of a number of research reports. Barclays lowered their target price on Louisiana-Pacific from $90.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. DA Davidson reaffirmed a “buy” rating and set a $114.00 price target on shares of Louisiana-Pacific in a research note on Tuesday, May 5th. Oppenheimer lowered their price objective on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $104.00 price objective on shares of Louisiana-Pacific in a research note on Wednesday, February 18th. Finally, Weiss Ratings upgraded shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.25.

Insider Activity at Louisiana-Pacific

In other news, Director Lizanne M. Bruce sold 1,300 shares of Louisiana-Pacific stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $78.59, for a total transaction of $102,167.00. Following the completion of the sale, the director owned 17,160 shares of the company’s stock, valued at approximately $1,348,604.40. The trade was a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company’s stock.

Louisiana-Pacific Stock Down 0.9%

Shares of LPX opened at $70.64 on Friday. The firm has a market capitalization of $4.94 billion, a P/E ratio of 59.87, a P/E/G ratio of 1.79 and a beta of 1.59. Louisiana-Pacific Corporation has a 12-month low of $66.12 and a 12-month high of $102.86. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average price of $72.88 and a 200-day moving average price of $80.18.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The company had revenue of $574.00 million for the quarter, compared to the consensus estimate of $569.99 million. During the same quarter last year, the firm posted $1.27 EPS. The firm’s revenue was down 20.7% compared to the same quarter last year. Equities research analysts expect that Louisiana-Pacific Corporation will post 2 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Louisiana-Pacific’s dividend payout ratio (DPR) is 101.69%.

Louisiana-Pacific Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.