Empirical Finance LLC purchased a new position in shares of Louisiana-Pacific Co. (NYSE:LPX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 14,829 shares of the building manufacturing company’s stock, valued at approximately $894,000.
A number of other institutional investors have also modified their holdings of the stock. The PNC Financial Services Group Inc. lifted its holdings in Louisiana-Pacific by 10.8% during the first quarter. The PNC Financial Services Group Inc. now owns 3,387 shares of the building manufacturing company’s stock worth $187,000 after acquiring an additional 331 shares during the period. IFP Advisors Inc raised its stake in shares of Louisiana-Pacific by 95.6% in the second quarter. IFP Advisors Inc now owns 978 shares of the building manufacturing company’s stock valued at $58,000 after buying an additional 478 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in shares of Louisiana-Pacific in the first quarter valued at $28,000. Eaton Vance Management bought a new stake in shares of Louisiana-Pacific in the first quarter valued at $31,000. Finally, Profund Advisors LLC raised its stake in shares of Louisiana-Pacific by 6.1% in the first quarter. Profund Advisors LLC now owns 9,805 shares of the building manufacturing company’s stock valued at $544,000 after buying an additional 562 shares during the period. Institutional investors and hedge funds own 94.61% of the company’s stock.
Several analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Louisiana-Pacific in a research note on Thursday, July 15th. They issued a “sell” rating and a $54.00 target price on the stock. Zacks Investment Research cut Louisiana-Pacific from a “strong-buy” rating to a “hold” rating and set a $57.00 price target for the company. in a research report on Tuesday, July 27th. Finally, TD Securities reduced their price target on Louisiana-Pacific from $70.00 to $67.00 and set a “hold” rating for the company in a research report on Wednesday, August 4th. One equities 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 price target of $58.13.
Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Monday, August 2nd. The building manufacturing company reported $4.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.25 by $0.49. Louisiana-Pacific had a return on equity of 91.77% and a net margin of 31.30%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s revenue was up 141.8% compared to the same quarter last year. As a group, research analysts expect that Louisiana-Pacific Co. will post 13.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Tuesday, August 10th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Monday, August 9th. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.16. Louisiana-Pacific’s payout ratio is 16.71%.
In related news, Director Stephen E. Macadam bought 1,850 shares of the stock in a transaction dated Monday, August 9th. The stock was bought at an average price of $56.24 per share, with a total value of $104,044.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Alan Haughie bought 12,470 shares of the stock in a transaction dated Thursday, August 5th. The stock was bought at an average cost of $55.94 per share, with a total value of $697,571.80. Following the purchase, the chief financial officer now owns 44,228 shares in the company, valued at approximately $2,474,114.32. The disclosure for this purchase can be found here. Insiders own 0.60% of the company’s stock.
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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