Victory Capital Management Inc. acquired a new stake in shares of Louisiana-Pacific Co. (NYSE:LPX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,420,475 shares of the building manufacturing company’s stock, valued at approximately $34,631,000.
Other large investors have also bought and sold shares of the company. Burney Co. lifted its stake in shares of Louisiana-Pacific by 184.2% in the 4th quarter. Burney Co. now owns 45,165 shares of the building manufacturing company’s stock valued at $1,004,000 after acquiring an additional 29,273 shares during the last quarter. Kiwi Wealth Investments Limited Partnership lifted its stake in shares of Louisiana-Pacific by 34.0% in the 4th quarter. Kiwi Wealth Investments Limited Partnership now owns 109,538 shares of the building manufacturing company’s stock valued at $2,434,000 after acquiring an additional 27,792 shares during the last quarter. First Allied Advisory Services Inc. lifted its stake in shares of Louisiana-Pacific by 14.2% in the 4th quarter. First Allied Advisory Services Inc. now owns 26,027 shares of the building manufacturing company’s stock valued at $570,000 after acquiring an additional 3,234 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of Louisiana-Pacific in the 1st quarter valued at about $213,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Louisiana-Pacific by 1.2% in the 4th quarter. Hsbc Holdings PLC now owns 188,434 shares of the building manufacturing company’s stock valued at $4,187,000 after acquiring an additional 2,166 shares during the last quarter. 89.44% of the stock is owned by institutional investors.
In related news, Director Gary Cook sold 4,000 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $24.76, for a total transaction of $99,040.00. Following the transaction, the director now owns 52,139 shares in the company, valued at approximately $1,290,961.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.40% of the stock is owned by insiders.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Tuesday, May 7th. The building manufacturing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Louisiana-Pacific had a net margin of 12.16% and a return on equity of 19.63%. The business had revenue of $582.00 million for the quarter, compared to analysts’ expectations of $601.49 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was down 15.8% on a year-over-year basis. Analysts expect that Louisiana-Pacific Co. will post 1.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Tuesday, May 21st will be issued a dividend of $0.135 per share. The ex-dividend date is Monday, May 20th. This represents a $0.54 dividend on an annualized basis and a yield of 2.24%. Louisiana-Pacific’s dividend payout ratio is presently 19.71%.
LPX has been the subject of a number of recent research reports. Stephens raised Louisiana-Pacific from an “equal weight” rating to an “overweight” rating and set a $32.00 target price for the company in a research note on Friday, April 5th. TD Securities boosted their target price on Louisiana-Pacific from $25.00 to $29.00 and gave the company a “hold” rating in a research note on Thursday, February 14th. Zacks Investment Research lowered Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 21st. ValuEngine lowered Louisiana-Pacific from a “hold” rating to a “sell” rating in a research note on Thursday, April 4th. Finally, Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $24.75 target price for the company in a research note on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $28.13.
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Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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