Prudential PLC Buys Shares of 3,212 Louisiana-Pacific Co. (NYSE:LPX)

Prudential PLC purchased a new position in shares of Louisiana-Pacific Co. (NYSE:LPX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,212 shares of the building manufacturing company’s stock, valued at approximately $264,000.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in Louisiana-Pacific during the 4th quarter worth approximately $53,186,000. Balyasny Asset Management L.P. increased its position in shares of Louisiana-Pacific by 16,827.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 717,059 shares of the building manufacturing company’s stock worth $50,789,000 after acquiring an additional 712,823 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Louisiana-Pacific by 83.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,563,117 shares of the building manufacturing company’s stock worth $110,717,000 after acquiring an additional 712,671 shares during the period. Eminence Capital LP lifted its position in Louisiana-Pacific by 31.4% in the 4th quarter. Eminence Capital LP now owns 2,056,991 shares of the building manufacturing company’s stock valued at $145,697,000 after acquiring an additional 491,641 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Louisiana-Pacific by 768.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 270,341 shares of the building manufacturing company’s stock valued at $22,257,000 after acquiring an additional 239,212 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $97.92 on Friday. The firm’s fifty day moving average price is $92.74 and its two-hundred day moving average price is $85.81. Louisiana-Pacific Co. has a 1 year low of $49.47 and a 1 year high of $101.89. The firm has a market capitalization of $6.88 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 0.60 and a beta of 1.88. The company has a current ratio of 3.38, a quick ratio of 1.95 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.23. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The company had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $797.26 million. During the same period in the prior year, the firm earned $0.55 EPS. Louisiana-Pacific’s quarterly revenue was up 33.2% compared to the same quarter last year. As a group, research analysts anticipate that Louisiana-Pacific Co. will post 5.05 EPS for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.04 annualized dividend and a dividend yield of 1.06%. Louisiana-Pacific’s dividend payout ratio is currently 28.57%.

Insider Buying and Selling

In other news, Director Ozey K. Horton, Jr. sold 800 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $96.10, for a total transaction of $76,880.00. Following the completion of the sale, the director now owns 29,008 shares in the company, valued at approximately $2,787,668.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Ozey K. Horton, Jr. sold 800 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $96.10, for a total value of $76,880.00. Following the completion of the sale, the director now directly owns 29,008 shares in the company, valued at approximately $2,787,668.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the transaction, the chief executive officer now owns 596,886 shares in the company, valued at approximately $55,773,027.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,991 shares of company stock valued at $3,443,269. 1.26% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on LPX shares. Royal Bank of Canada lifted their price target on Louisiana-Pacific from $101.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Bank of America lifted their target price on Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a research report on Thursday. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up previously from $101.00) on shares of Louisiana-Pacific in a research report on Thursday, August 8th. StockNews.com downgraded shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Friday. Finally, DA Davidson increased their target price on shares of Louisiana-Pacific from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $92.67.

Louisiana-Pacific Company 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.