PNC Financial Services Group Inc. Lowers Position in Louisiana-Pacific Co. (NYSE:LPX)

PNC Financial Services Group Inc. decreased its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,441 shares of the building manufacturing company’s stock after selling 367 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Louisiana-Pacific were worth $173,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LPX. Signaturefd LLC raised its position in Louisiana-Pacific by 232.9% during the fourth quarter. Signaturefd LLC now owns 789 shares of the building manufacturing company’s stock valued at $56,000 after purchasing an additional 552 shares in the last quarter. Principal Securities Inc. bought a new stake in Louisiana-Pacific in the 4th quarter worth approximately $75,000. Larson Financial Group LLC boosted its stake in Louisiana-Pacific by 101.2% in the fourth quarter. Larson Financial Group LLC now owns 1,354 shares of the building manufacturing company’s stock worth $96,000 after buying an additional 681 shares in the last quarter. Simplicity Solutions LLC bought a new position in Louisiana-Pacific during the fourth quarter valued at approximately $204,000. Finally, Raymond James Trust N.A. purchased a new position in shares of Louisiana-Pacific during the fourth quarter worth approximately $206,000. 94.73% of the stock is currently owned by institutional investors.

Louisiana-Pacific Price Performance

Shares of LPX opened at $83.12 on Thursday. The firm has a market cap of $5.96 billion, a PE ratio of 22.84, a P/E/G ratio of 10.69 and a beta of 1.89. Louisiana-Pacific Co. has a 1-year low of $49.47 and a 1-year high of $95.70. The company has a current ratio of 3.32, a quick ratio of 1.75 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $86.02 and a two-hundred day simple moving average of $77.41.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, May 8th. The building manufacturing company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.40. Louisiana-Pacific had a net margin of 9.74% and a return on equity of 20.87%. The company had revenue of $724.00 million during the quarter, compared to analyst estimates of $686.84 million. During the same period in the previous year, the business posted $0.34 earnings per share. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. On average, equities analysts anticipate that Louisiana-Pacific Co. will post 5.79 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.25%. The ex-dividend date was Tuesday, May 21st. Louisiana-Pacific’s dividend payout ratio is 28.57%.

Insiders Place Their Bets

In other news, Director Lizanne C. Gottung sold 3,591 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $89.18, for a total value of $320,245.38. Following the transaction, the director now directly owns 23,501 shares in the company, valued at $2,095,819.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Seaport Res Ptn cut shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research note on Thursday, May 9th. TD Securities boosted their target price on Louisiana-Pacific from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. The Goldman Sachs Group lowered Louisiana-Pacific from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $89.00 to $81.00 in a research report on Monday, June 17th. Loop Capital assumed coverage on Louisiana-Pacific in a research report on Friday, May 3rd. They issued a “hold” rating and a $82.00 price objective for the company. Finally, Royal Bank of Canada increased their price objective on Louisiana-Pacific from $88.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $87.11.

Louisiana-Pacific Profile

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.