Eminence Capital LP Has $155.07 Million Position in Louisiana-Pacific Co. (NYSE:LPX)

Eminence Capital LP decreased its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 10.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,883,524 shares of the building manufacturing company’s stock after selling 226,293 shares during the period. Louisiana-Pacific makes up 2.5% of Eminence Capital LP’s portfolio, making the stock its 16th biggest position. Eminence Capital LP’s holdings in Louisiana-Pacific were worth $155,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LPX. LifeSteps Financial Inc. bought a new stake in Louisiana-Pacific in the first quarter valued at about $25,000. Fidelis Capital Partners LLC acquired a new stake in Louisiana-Pacific during the first quarter valued at approximately $25,000. Whittier Trust Co. bought a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $31,000. Bessemer Group Inc. raised its holdings in shares of Louisiana-Pacific by 258.5% in the 1st quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock worth $37,000 after buying an additional 318 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Louisiana-Pacific by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock worth $40,000 after buying an additional 177 shares during the period. 94.73% of the stock is owned by institutional investors.

Louisiana-Pacific Stock Performance

Shares of NYSE:LPX opened at $105.25 on Thursday. Louisiana-Pacific Co. has a twelve month low of $49.47 and a twelve month high of $107.48. The firm has a market cap of $7.40 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 4.95 and a beta of 1.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.95 and a current ratio of 3.38. The business has a fifty day moving average of $96.14 and a 200-day moving average of $87.69.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.23. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. The company had revenue of $814.00 million during the quarter, compared to analyst estimates of $797.26 million. During the same period last year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 33.2% compared to the same quarter last year. On average, equities research analysts predict that Louisiana-Pacific Co. will post 5.04 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Tuesday, August 20th. Louisiana-Pacific’s dividend payout ratio is 28.57%.

Insider Activity at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $98.30, for a total value of $245,750.00. Following the transaction, the director now owns 21,005 shares in the company, valued at $2,064,791.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $98.30, for a total value of $245,750.00. Following the transaction, the director now owns 21,005 shares in the company, valued at $2,064,791.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $76,880.00. Following the completion of the transaction, the director now owns 29,008 shares in the company, valued at approximately $2,787,668.80. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $3,368,774 over the last 90 days. Insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LPX. Bank of America upped their price target on Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. The Goldman Sachs Group increased their price objective on Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a research note on Thursday, August 8th. BMO Capital Markets lowered Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 price objective for the company. in a research note on Thursday, August 8th. DA Davidson increased their price objective on Louisiana-Pacific from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, StockNews.com lowered Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $92.67.

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.