Hennion & Walsh Asset Management Inc. Acquires New Position in Louisiana-Pacific Co. (NYSE:LPX)

Hennion & Walsh Asset Management Inc. bought a new position in shares of Louisiana-Pacific Co. (NYSE:LPX) during the third quarter, Holdings Channel reports. The fund bought 2,383 shares of the building manufacturing company’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds also recently bought and sold shares of LPX. William Blair Investment Management LLC acquired a new position in Louisiana-Pacific in the second quarter valued at approximately $91,053,000. Marshall Wace LLP lifted its stake in shares of Louisiana-Pacific by 92.4% in the 2nd quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock valued at $103,363,000 after purchasing an additional 602,803 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Louisiana-Pacific by 188.3% in the 2nd quarter. Renaissance Technologies LLC now owns 447,400 shares of the building manufacturing company’s stock valued at $36,834,000 after purchasing an additional 292,200 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Louisiana-Pacific by 768.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 270,341 shares of the building manufacturing company’s stock worth $22,257,000 after purchasing an additional 239,212 shares during the period. Finally, Natixis acquired a new stake in shares of Louisiana-Pacific during the 1st quarter worth about $16,371,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Stock Down 4.1 %

Louisiana-Pacific stock opened at $98.02 on Wednesday. The firm has a market capitalization of $7.03 billion, a P/E ratio of 26.92, a P/E/G ratio of 4.63 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 Co. has a twelve month low of $49.47 and a twelve month high of $109.73. The stock’s fifty day simple moving average is $100.96 and its 200-day simple moving average is $91.71.

Louisiana-Pacific (NYSE:LPX) last posted 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. The company had revenue of $814.00 million for the quarter, compared to analyst estimates of $797.26 million. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. Louisiana-Pacific’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. As a group, 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. Investors of record on Tuesday, August 20th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.04 dividend on an annualized basis and a yield of 1.06%. Louisiana-Pacific’s dividend payout ratio is currently 28.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LPX shares. Royal Bank of Canada upped their target price on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. The Goldman Sachs Group upped their price objective on shares of Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a report on Thursday, August 8th. Bank of America lifted their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. BMO Capital Markets lowered Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 target price on the stock. in a research report on Thursday, August 8th. Finally, Truist Financial raised their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $93.56.

Insiders Place Their Bets

In other news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.30, for a total transaction of $245,750.00. Following the completion of the sale, the director now directly owns 21,005 shares of the company’s stock, valued at approximately $2,064,791.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Lizanne C. Gottung sold 2,500 shares of the 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 approximately $2,064,791.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $3,046,144.00. Following the sale, the chief executive officer now owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,900 shares of company stock worth $3,368,774 in the last 90 days. Corporate insiders own 1.26% of the company’s stock.

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.