Wedmont Private Capital Invests $208,000 in Louisiana-Pacific Co. (NYSE:LPX)

Wedmont Private Capital purchased a new stake in shares of Louisiana-Pacific Co. (NYSE:LPX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,920 shares of the building manufacturing company’s stock, valued at approximately $208,000.

Other hedge funds also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new stake in shares of Louisiana-Pacific in the 1st quarter worth $25,000. Whittier Trust Co. bought a new stake in Louisiana-Pacific in the 1st quarter worth about $31,000. Bessemer Group Inc. raised its position in 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 during the last quarter. GAMMA Investing LLC lifted its stake in Louisiana-Pacific by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock valued at $40,000 after acquiring an additional 177 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in shares of Louisiana-Pacific in the second quarter worth approximately $53,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the sale, the director now directly owns 21,005 shares of the company’s stock, valued at $2,064,791.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Louisiana-Pacific news, CEO William Bradley Southern sold 32,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the sale, the chief executive officer now directly owns 596,886 shares of the company’s stock, valued at $55,773,027.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.30, for a total value of $245,750.00. Following the sale, the director now owns 21,005 shares in the company, valued at approximately $2,064,791.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $3,368,774 in the last quarter. 1.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LPX shares. Royal Bank of Canada raised their target price on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Bank of America raised their target price on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Truist Financial restated a “buy” rating and set a $105.00 price target (up from $101.00) on shares of Louisiana-Pacific in a research note on Thursday, August 8th. StockNews.com downgraded shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Finally, The Goldman Sachs Group upped their target price on shares of Louisiana-Pacific from $78.00 to $86.00 and gave the company a “sell” rating in a report on Thursday, August 8th. Two investment 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $92.67.

Louisiana-Pacific Trading Up 0.6 %

Shares of LPX opened at $104.70 on Monday. Louisiana-Pacific Co. has a 1 year low of $49.47 and a 1 year high of $109.73. The company has a 50 day simple moving average of $99.13 and a two-hundred day simple moving average of $90.03. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.38 and a quick ratio of 1.95. The firm has a market cap of $7.51 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 4.96 and a beta of 1.88.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly 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 the consensus estimate of $797.26 million. During the same period in the previous year, the firm posted $0.55 EPS. Louisiana-Pacific’s revenue for the quarter was up 33.2% compared to the same quarter last year. On average, equities analysts expect that Louisiana-Pacific Co. will post 5.04 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.26 per share. 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 presently 28.57%.

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.