Louisiana-Pacific Co. (NYSE:LPX) Holdings Decreased by First Eagle Investment Management LLC

First Eagle Investment Management LLC cut its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 10.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,581 shares of the building manufacturing company’s stock after selling 19,050 shares during the quarter. First Eagle Investment Management LLC owned 0.22% of Louisiana-Pacific worth $13,138,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. bought a new position in shares of Louisiana-Pacific in the 1st quarter worth about $25,000. Fidelis Capital Partners LLC bought a new position in Louisiana-Pacific in the first quarter worth about $25,000. Whittier Trust Co. acquired a new position in Louisiana-Pacific in the first quarter valued at approximately $31,000. Bessemer Group Inc. grew its holdings in shares of Louisiana-Pacific by 258.5% during the first quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock valued at $37,000 after purchasing an additional 318 shares during the last quarter. Finally, GAMMA Investing LLC raised 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 purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LPX shares. The Goldman Sachs Group boosted their price objective on Louisiana-Pacific from $78.00 to $86.00 and gave the company a “sell” rating in a research report on Thursday, August 8th. DA Davidson increased their price objective 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. BMO Capital Markets downgraded shares of Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 price objective on the stock. in a research report on Thursday, August 8th. Bank of America boosted their price target on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada upped their price objective 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. 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $92.67.

Insider Activity

In related news, CEO William Bradley Southern sold 32,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total value of $3,046,144.00. Following the completion of the transaction, the chief executive officer now owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ozey K. Horton, Jr. sold 800 shares of the firm’s stock in a transaction that occurred on 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 directly owns 29,008 shares in the company, valued at $2,787,668.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the transaction, the chief executive officer now directly owns 596,886 shares in the company, valued at $55,773,027.84. The disclosure for this sale can be found here. Insiders have sold 35,900 shares of company stock worth $3,368,774 over the last 90 days. 1.26% of the stock is owned by company insiders.

Louisiana-Pacific Stock Performance

Shares of LPX opened at $104.14 on Friday. The stock has a market capitalization of $7.47 billion, a P/E ratio of 28.61, 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 $105.35. 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’s 50 day moving average is $94.69 and its 200-day moving average is $86.76.

Louisiana-Pacific (NYSE:LPX) last announced its 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. The business had revenue of $814.00 million during the quarter, compared to the consensus estimate 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 was up 33.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.55 earnings per share. Equities research analysts anticipate 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 $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Tuesday, August 20th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 28.57%.

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.