Russell Investments Group Ltd. Trims Position in Louisiana-Pacific Co. (LPX)
Russell Investments Group Ltd. lessened its stake in Louisiana-Pacific Co. (NYSE:LPX) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 631,975 shares of the construction company’s stock after selling 19,972 shares during the period. Russell Investments Group Ltd. owned about 0.44% of Louisiana-Pacific worth $17,002,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Synovus Financial Corp raised its position in Louisiana-Pacific by 174.8% in the second quarter. Synovus Financial Corp now owns 4,672 shares of the construction company’s stock worth $127,000 after purchasing an additional 2,972 shares in the last quarter. First Hawaiian Bank acquired a new position in Louisiana-Pacific in the third quarter worth about $165,000. TRUE Private Wealth Advisors acquired a new position in Louisiana-Pacific in the third quarter worth about $168,000. NumerixS Investment Technologies Inc raised its position in Louisiana-Pacific by 36.0% in the second quarter. NumerixS Investment Technologies Inc now owns 9,250 shares of the construction company’s stock worth $249,000 after purchasing an additional 2,450 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors acquired a new position in Louisiana-Pacific in the second quarter worth about $265,000. 92.63% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on LPX shares. Bank of America raised shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a research report on Monday, July 16th. Longbow Research reissued a “hold” rating on shares of Louisiana-Pacific in a research report on Tuesday, October 9th. ValuEngine lowered shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. BMO Capital Markets raised shares of Louisiana-Pacific from an “underperform” rating to a “market perform” rating and dropped their price target for the stock from $27.00 to $24.00 in a research report on Monday, October 22nd. They noted that the move was a valuation call. Finally, Seaport Global Securities started coverage on shares of Louisiana-Pacific in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $31.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $32.13.
Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.17. The company had revenue of $736.80 million during the quarter, compared to analyst estimates of $724.92 million. Louisiana-Pacific had a net margin of 17.23% and a return on equity of 27.84%. The company’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. Equities analysts predict that Louisiana-Pacific Co. will post 2.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, November 15th. Louisiana-Pacific’s payout ratio is 22.32%.
Louisiana-Pacific announced that its board has authorized a stock buyback program on Tuesday, August 7th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other news, Director Lizanne C. Gottung sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $29.25, for a total transaction of $204,750.00. Following the completion of the sale, the director now owns 18,115 shares of the company’s stock, valued at $529,863.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William Bradley Southern sold 12,042 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $31.00, for a total transaction of $373,302.00. Following the sale, the chief executive officer now directly owns 196,518 shares of the company’s stock, valued at approximately $6,092,058. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,287 shares of company stock valued at $1,180,736. Company insiders own 1.48% of the company’s stock.
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Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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