Truist Financial Corp Boosts Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Truist Financial Corp boosted its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 8.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,742 shares of the building manufacturing company’s stock after acquiring an additional 8,177 shares during the quarter. Truist Financial Corp owned about 0.15% of Louisiana-Pacific worth $9,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of LPX. William Blair Investment Management LLC purchased a new position in Louisiana-Pacific during the second quarter worth about $91,053,000. Balyasny Asset Management L.P. raised its stake in shares of Louisiana-Pacific by 16,827.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 717,059 shares of the building manufacturing company’s stock worth $50,789,000 after buying an additional 712,823 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Louisiana-Pacific by 83.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,563,117 shares of the building manufacturing company’s stock valued at $110,717,000 after buying an additional 712,671 shares during the period. Marshall Wace LLP lifted its holdings 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 buying an additional 602,803 shares during the period. Finally, Eminence Capital LP boosted its stake in shares of Louisiana-Pacific by 31.4% in the fourth quarter. Eminence Capital LP now owns 2,056,991 shares of the building manufacturing company’s stock valued at $145,697,000 after buying an additional 491,641 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ozey K. Horton, Jr. sold 800 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $96.10, for a total transaction of $76,880.00. Following the sale, the director now owns 29,008 shares in the company, valued at $2,787,668.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Ozey K. Horton, Jr. sold 800 shares of the business’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 value of $76,880.00. Following the completion of the sale, the director now directly owns 29,008 shares in the company, valued at approximately $2,787,668.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of the 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 transaction, the chief executive officer now directly owns 596,886 shares in the company, valued at approximately $55,773,027.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,900 shares of company stock valued at $3,368,774 over the last 90 days. Insiders own 1.26% of the company’s stock.

Louisiana-Pacific Price Performance

LPX stock opened at $105.77 on Friday. 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 stock’s 50 day moving average price is $98.23 and its 200 day moving average price is $89.14. The firm has a market cap of $7.58 billion, a P/E ratio of 29.06, a PEG ratio of 4.95 and a beta of 1.88. Louisiana-Pacific Co. has a 1 year low of $49.47 and a 1 year high of $109.73.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS 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 business had revenue of $814.00 million for the quarter, compared to analyst estimates of $797.26 million. During the same quarter last year, the company earned $0.55 earnings per share. The business’s revenue for the quarter was up 33.2% compared to the same quarter last year. On average, sell-side analysts expect that Louisiana-Pacific Co. will post 5.04 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.98%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 28.57%.

Analyst Ratings Changes

LPX has been the subject of several research analyst reports. Bank of America increased their price objective on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. StockNews.com cut shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. BMO Capital Markets lowered shares of 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. Royal Bank of Canada lifted their price target 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. Finally, DA Davidson boosted their price target on Louisiana-Pacific from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Louisiana-Pacific has a consensus rating of “Hold” and an average price target of $92.67.

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.