Hancock Whitney Corp Reduces Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Hancock Whitney Corp cut its stake in Louisiana-Pacific Co. (NYSE:LPX) by 40.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,646 shares of the building manufacturing company’s stock after selling 2,526 shares during the quarter. Hancock Whitney Corp’s holdings in Louisiana-Pacific were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Louisiana-Pacific by 1.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,027 shares of the building manufacturing company’s stock valued at $1,237,000 after buying an additional 167 shares during the last quarter. GAMMA Investing LLC increased its position in Louisiana-Pacific by 57.3% during the second 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 last quarter. CWM LLC lifted its holdings in Louisiana-Pacific by 9.0% in the second quarter. CWM LLC now owns 2,279 shares of the building manufacturing company’s stock valued at $188,000 after acquiring an additional 188 shares during the period. Retirement Systems of Alabama boosted its position in Louisiana-Pacific by 0.3% in the first quarter. Retirement Systems of Alabama now owns 80,596 shares of the building manufacturing company’s stock worth $6,763,000 after purchasing an additional 220 shares during the last quarter. Finally, Investment House LLC grew its stake in shares of Louisiana-Pacific by 5.5% during the 2nd quarter. Investment House LLC now owns 4,769 shares of the building manufacturing company’s stock valued at $393,000 after purchasing an additional 250 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group raised 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 boosted their price objective on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. StockNews.com cut Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Friday, September 13th. DA Davidson lifted 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, Truist Financial restated a “buy” rating and issued a $105.00 price target (up previously from $101.00) on shares of Louisiana-Pacific in a research report on Thursday, August 8th. Two investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $92.67.

Louisiana-Pacific Stock Up 0.9 %

NYSE LPX opened at $106.48 on Tuesday. 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 12 month low of $49.47 and a 12 month high of $106.81. The stock’s 50 day moving average is $95.48 and its 200 day moving average is $87.35. The stock has a market cap of $7.63 billion, a PE ratio of 29.25, a P/E/G ratio of 0.60 and a beta of 1.88.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The firm had revenue of $814.00 million during the quarter, compared to analyst estimates of $797.26 million. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. Louisiana-Pacific’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.55 earnings per share. Research analysts predict that Louisiana-Pacific Co. will post 5.05 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

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

Insider Buying and Selling

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the firm’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 completion of the transaction, the director now owns 21,005 shares in the company, valued at approximately $2,064,791.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the director now owns 21,005 shares in the company, valued at $2,064,791.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of the company’s stock in a transaction dated 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 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. Over the last three months, insiders have sold 35,900 shares of company stock worth $3,368,774. Corporate insiders own 1.26% of the company’s stock.

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.