Skandinaviska Enskilda Banken AB publ Acquires New Position in Louisiana-Pacific Co. (LPX)

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Skandinaviska Enskilda Banken AB publ acquired a new position in Louisiana-Pacific Co. (NYSE:LPX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 596,600 shares of the construction company’s stock, valued at approximately $15,804,000.

A number of other large investors have also added to or reduced their stakes in the stock. Dupont Capital Management Corp lifted its stake in Louisiana-Pacific by 100.4% in the third quarter. Dupont Capital Management Corp now owns 169,228 shares of the construction company’s stock worth $4,483,000 after acquiring an additional 84,800 shares during the period. Regal Investment Advisors LLC lifted its stake in Louisiana-Pacific by 19.6% in the third quarter. Regal Investment Advisors LLC now owns 67,746 shares of the construction company’s stock worth $1,795,000 after acquiring an additional 11,112 shares during the period. WINTON GROUP Ltd purchased a new stake in Louisiana-Pacific in the third quarter worth about $372,000. American Century Companies Inc. lifted its stake in Louisiana-Pacific by 1.1% in the third quarter. American Century Companies Inc. now owns 1,356,415 shares of the construction company’s stock worth $35,931,000 after acquiring an additional 14,455 shares during the period. Finally, Smith Asset Management Group LP lifted its position in shares of Louisiana-Pacific by 4.5% during the third quarter. Smith Asset Management Group LP now owns 100,161 shares of the construction company’s stock valued at $2,653,000 after buying an additional 4,350 shares during the last quarter. 92.63% of the stock is owned by institutional investors.

In other news, 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 transaction, the director now owns 18,115 shares in the company, valued at $529,863.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Neil Sherman sold 7,430 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $31.74, for a total transaction of $235,828.20. Following the transaction, the executive vice president now owns 51,708 shares in the company, valued at approximately $1,641,211.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,287 shares of company stock worth $1,180,736. Corporate insiders own 1.48% of the company’s stock.

LPX stock opened at $23.44 on Friday. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 1.76 and a beta of 1.61. Louisiana-Pacific Co. has a one year low of $20.89 and a one year high of $32.16. The company has a quick ratio of 4.57, a current ratio of 6.13 and a debt-to-equity ratio of 0.19.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.17. Louisiana-Pacific had a net margin of 17.23% and a return on equity of 27.84%. The business had revenue of $736.80 million during the quarter, compared to analyst estimates of $724.92 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Analysts predict that Louisiana-Pacific Co. will post 2.94 earnings per share for the current year.

Louisiana-Pacific declared that its board has initiated a stock buyback plan on Tuesday, August 7th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 3.7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.52 annualized dividend and a dividend yield of 2.22%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 22.32%.

Several analysts have commented on LPX shares. Bank of America raised shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Monday, July 16th. 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. ValuEngine lowered shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Longbow Research reissued a “hold” rating on shares of Louisiana-Pacific in a research report on Tuesday, October 9th. Finally, BMO Capital Markets raised shares of Louisiana-Pacific from an “underperform” rating to a “market perform” rating and decreased their price target for the company from $27.00 to $24.00 in a research report on Monday, October 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Louisiana-Pacific currently has an average rating of “Hold” and an average price target of $32.13.

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About Louisiana-Pacific

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: Diversification in Investing

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

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