Principal Financial Group Inc. Cuts Position in Louisiana-Pacific Co. (NYSE:LPX)

Principal Financial Group Inc. cut its stake in Louisiana-Pacific Co. (NYSE:LPX) by 2.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 533,504 shares of the building manufacturing company’s stock after selling 15,356 shares during the period. Principal Financial Group Inc.’s holdings in Louisiana-Pacific were worth $32,741,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LPX. FMR LLC boosted its position in Louisiana-Pacific by 256.3% during the first quarter. FMR LLC now owns 459,499 shares of the building manufacturing company’s stock valued at $11,203,000 after buying an additional 330,547 shares during the period. Rafferty Asset Management LLC boosted its position in Louisiana-Pacific by 13.8% during the second quarter. Rafferty Asset Management LLC now owns 43,468 shares of the building manufacturing company’s stock valued at $2,621,000 after buying an additional 5,281 shares during the period. Citigroup Inc. boosted its position in Louisiana-Pacific by 63.0% during the second quarter. Citigroup Inc. now owns 136,452 shares of the building manufacturing company’s stock valued at $8,227,000 after buying an additional 52,761 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Louisiana-Pacific by 3.7% during the second quarter. State Board of Administration of Florida Retirement System now owns 90,927 shares of the building manufacturing company’s stock valued at $5,482,000 after buying an additional 3,222 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Louisiana-Pacific by 132.2% during the second quarter. BNP Paribas Arbitrage SA now owns 225,578 shares of the building manufacturing company’s stock valued at $13,600,000 after buying an additional 128,423 shares during the period. Institutional investors own 97.92% of the company’s stock.

In related news, CEO William Bradley Southern purchased 5,350 shares of the firm’s stock in a transaction that occurred on Tuesday, November 16th. The stock was bought at an average cost of $67.24 per share, with a total value of $359,734.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by corporate insiders.

Several analysts have issued reports on LPX shares. TD Securities upped their price target on shares of Louisiana-Pacific from $67.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, November 3rd. Zacks Investment Research raised shares of Louisiana-Pacific from a “hold” rating to a “strong-buy” rating and set a $87.00 price objective for the company in a research note on Tuesday, December 14th. Finally, BMO Capital Markets upped their price objective on shares of Louisiana-Pacific from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, December 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $73.83.

LPX stock opened at $75.60 on Friday. Louisiana-Pacific Co. has a 1 year low of $37.24 and a 1 year high of $79.77. The company has a market cap of $6.65 billion, a P/E ratio of 5.36 and a beta of 1.75. The firm has a 50-day moving average of $72.64 and a 200 day moving average of $64.61. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.80 and a quick ratio of 2.05.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Monday, November 1st. The building manufacturing company reported $3.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.42 by $0.45. Louisiana-Pacific had a net margin of 32.55% and a return on equity of 101.78%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. On average, equities research analysts expect that Louisiana-Pacific Co. will post 13.5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 1st. Investors of record on Monday, November 8th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Friday, November 5th. Louisiana-Pacific’s payout ratio is currently 5.10%.

Louisiana-Pacific Company Profile

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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Institutional Ownership by Quarter for Louisiana-Pacific (NYSE:LPX)

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