Oppenheimer Asset Management Inc. Has $1.63 Million Position in Louisiana-Pacific Co. (NYSE:LPX)

Oppenheimer Asset Management Inc. increased its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 16.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,845 shares of the building manufacturing company’s stock after buying an additional 2,805 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Louisiana-Pacific were worth $1,634,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC bought a new stake in shares of Louisiana-Pacific during the second quarter valued at approximately $91,053,000. Thoroughbred Financial Services LLC bought a new stake in Louisiana-Pacific in the 2nd quarter valued at $230,000. Qsemble Capital Management LP acquired a new position in shares of Louisiana-Pacific in the 2nd quarter valued at $1,629,000. Headlands Technologies LLC bought a new position in shares of Louisiana-Pacific during the 2nd quarter worth about $81,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Louisiana-Pacific during the 2nd quarter valued at about $66,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Louisiana-Pacific Stock Up 0.8 %

Shares of NYSE:LPX opened at $101.55 on Thursday. The company has a quick ratio of 1.95, a current ratio of 3.38 and a debt-to-equity ratio of 0.21. The firm has a market cap of $7.28 billion, a P/E ratio of 27.90, a P/E/G ratio of 0.60 and a beta of 1.88. Louisiana-Pacific Co. has a 12 month low of $49.47 and a 12 month high of $103.86. The company’s 50-day moving average price is $94.29 and its two-hundred day moving average price is $86.64.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.86 by $0.23. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The business 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 earnings per share. Louisiana-Pacific’s revenue was up 33.2% compared to the same quarter last year. As a group, research analysts forecast that Louisiana-Pacific Co. will post 5.05 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.02%. Louisiana-Pacific’s payout ratio is currently 28.57%.

Analysts Set New Price Targets

LPX has been the subject of several recent research reports. DA Davidson increased their price target on shares of Louisiana-Pacific from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. The Goldman Sachs Group increased their target price on Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a report on Thursday, August 8th. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $101.00) on shares of Louisiana-Pacific in a research note on Thursday, August 8th. Royal Bank of Canada increased their price objective on Louisiana-Pacific from $101.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Bank of America upped their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Louisiana-Pacific presently has an average rating of “Hold” and an average target price of $92.67.

Insider Activity

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 800 shares of the company’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 transaction, 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 SEC, which is accessible through the SEC website. In related news, Director Ozey K. Horton, Jr. sold 800 shares of the company’s stock in a transaction dated 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 owns 29,008 shares in the company, valued at $2,787,668.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $98.30, for a total value of $245,750.00. Following the completion of the transaction, the director now directly owns 21,005 shares in the company, valued at approximately $2,064,791.50. The disclosure for this sale can be found here. Insiders have sold 35,900 shares of company stock valued at $3,368,774 over the last 90 days. 1.26% of the stock is owned by company insiders.

About Louisiana-Pacific

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.