Comerica Bank lessened its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 7.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,874 shares of the construction company’s stock after selling 8,845 shares during the quarter. Comerica Bank’s holdings in Louisiana-Pacific were worth $3,119,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of LPX. DekaBank Deutsche Girozentrale bought a new position in Louisiana-Pacific during the first quarter worth about $131,000. Cerebellum GP LLC bought a new position in Louisiana-Pacific during the second quarter worth about $174,000. Zeke Capital Advisors LLC bought a new position in Louisiana-Pacific during the first quarter worth about $205,000. Bayesian Capital Management LP bought a new position in Louisiana-Pacific during the first quarter worth about $247,000. Finally, Cambria Investment Management L.P. bought a new position in Louisiana-Pacific during the first quarter worth about $299,000. Hedge funds and other institutional investors own 92.32% of the company’s stock.
LPX stock opened at $30.19 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.68 and a quick ratio of 4.57. Louisiana-Pacific Co. has a 12 month low of $23.39 and a 12 month high of $31.19. The company has a market capitalization of $4.09 billion, a PE ratio of 12.96, a PEG ratio of 1.95 and a beta of 1.48.
Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Tuesday, August 7th. The construction company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. Louisiana-Pacific had a net margin of 16.85% and a return on equity of 28.21%. The company had revenue of $810.80 million during the quarter, compared to analyst estimates of $788.55 million. equities research analysts predict that Louisiana-Pacific Co. will post 2.95 EPS for the current year.
Louisiana-Pacific declared that its board has approved a share repurchase plan on Tuesday, August 7th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to purchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders 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 dividend yield of 1.72%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 22.32%.
In other news, Director Gary Cook sold 2,558 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $29.00, for a total value of $74,182.00. Following the completion of the transaction, the director now directly owns 52,697 shares in the company, valued at $1,528,213. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lizanne C. Gottung sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $29.25, for a total transaction of $204,750.00. Following the completion of the transaction, the director now owns 18,115 shares of the company’s stock, valued at $529,863.75. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on LPX. Zacks Investment Research lowered shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. Bank of America upgraded shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, July 16th. ValuEngine lowered shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. DA Davidson upgraded shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 8th. Finally, BMO Capital Markets reiterated a “sell” rating and set a $27.00 target price on shares of Louisiana-Pacific in a research report on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.25.
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.
Featured Article: Fundamental Analysis – How It Helps Investors
Want to see what other hedge funds are holding LPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Louisiana-Pacific Co. (NYSE:LPX).
Receive News & Ratings for Louisiana-Pacific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Louisiana-Pacific and related companies with MarketBeat.com's FREE daily email newsletter.