Federated Hermes Inc. Sells 662 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Federated Hermes Inc. reduced its position in Louisiana-Pacific Co. (NYSE:LPX) by 9.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,471 shares of the building manufacturing company’s stock after selling 662 shares during the period. Federated Hermes Inc.’s holdings in Louisiana-Pacific were worth $533,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Louisiana-Pacific in the fourth quarter valued at $53,186,000. US Bancorp DE increased its holdings in shares of Louisiana-Pacific by 20.7% in the 4th quarter. US Bancorp DE now owns 9,199 shares of the building manufacturing company’s stock worth $652,000 after buying an additional 1,580 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Louisiana-Pacific by 9.2% during the 4th quarter. Intech Investment Management LLC now owns 5,293 shares of the building manufacturing company’s stock valued at $375,000 after buying an additional 444 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Louisiana-Pacific by 74.1% in the 4th quarter. Hsbc Holdings PLC now owns 38,947 shares of the building manufacturing company’s stock valued at $2,780,000 after acquiring an additional 16,573 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in Louisiana-Pacific by 41.2% in the fourth quarter. Allianz Asset Management GmbH now owns 232,356 shares of the building manufacturing company’s stock worth $16,458,000 after acquiring an additional 67,748 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Insider Transactions at Louisiana-Pacific

In related news, CEO William Bradley Southern sold 32,600 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 596,886 shares of the company’s stock, valued at $55,773,027.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the 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 transaction, the director now directly owns 21,005 shares of the company’s stock, valued at $2,064,791.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of Louisiana-Pacific stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 596,886 shares in the company, valued at $55,773,027.84. The disclosure for this sale can be found here. Insiders sold a total of 35,900 shares of company stock worth $3,368,774 over the last three months. 1.26% of the stock is currently owned by insiders.

Louisiana-Pacific Stock Up 0.9 %

NYSE:LPX opened at $106.48 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.38 and a quick ratio of 1.95. Louisiana-Pacific Co. has a 1-year low of $49.47 and a 1-year high of $106.81. The company has a 50-day moving average of $95.48 and a 200 day moving average of $87.35. The firm has a market cap of $7.63 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 0.60 and a beta of 1.88.

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, topping the consensus estimate of $1.86 by $0.23. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The firm had revenue of $814.00 million during the quarter, compared to analyst estimates of $797.26 million. During the same quarter in the previous year, the business posted $0.55 EPS. Louisiana-Pacific’s revenue was up 33.2% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, August 20th. Louisiana-Pacific’s dividend payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LPX. The Goldman Sachs Group lifted their target price on Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a report on Thursday, August 8th. 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. BMO Capital Markets downgraded shares of Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 price target on the stock. in a report on Thursday, August 8th. DA Davidson boosted their target price on Louisiana-Pacific from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, Bank of America raised their price target on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Two equities research 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. According to MarketBeat.com, the stock presently has an average 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.