Oppenheimer Asset Management Inc. Trims Position in Louisiana-Pacific Co. (NYSE:LPX)

Oppenheimer Asset Management Inc. cut its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 6.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,040 shares of the building manufacturing company’s stock after selling 1,226 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Louisiana-Pacific were worth $1,430,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. LifeSteps Financial Inc. purchased a new position in Louisiana-Pacific during the 1st quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new stake in shares of Louisiana-Pacific during the 1st quarter worth approximately $25,000. Whittier Trust Co. acquired a new stake in shares of Louisiana-Pacific during the 1st quarter worth approximately $31,000. Signaturefd LLC grew its stake in shares of Louisiana-Pacific by 232.9% during the 4th quarter. Signaturefd LLC now owns 789 shares of the building manufacturing company’s stock worth $56,000 after purchasing an additional 552 shares during the period. Finally, Principal Securities Inc. acquired a new stake in shares of Louisiana-Pacific during the 4th quarter worth approximately $75,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LPX. TD Securities raised their price objective on shares of Louisiana-Pacific from $87.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, May 9th. Loop Capital began coverage on shares of Louisiana-Pacific in a research note on Friday, May 3rd. They set a “hold” rating and a $82.00 price objective on the stock. Seaport Res Ptn cut shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research note on Thursday, May 9th. The Goldman Sachs Group cut shares of Louisiana-Pacific from a “neutral” rating to a “sell” rating and dropped their price target for the company from $89.00 to $81.00 in a research note on Monday, June 17th. Finally, Royal Bank of Canada lifted their price target on shares of Louisiana-Pacific from $88.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Louisiana-Pacific currently has an average rating of “Hold” and an average price target of $90.50.

Insider Activity at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 3,591 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $89.18, for a total value of $320,245.38. Following the sale, the director now directly owns 23,501 shares in the company, valued at approximately $2,095,819.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.26% of the stock is owned by insiders.

Louisiana-Pacific Trading Up 1.8 %

Shares of LPX stock opened at $85.66 on Monday. The stock’s fifty day moving average is $87.16 and its two-hundred day moving average is $78.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.75 and a current ratio of 3.32. The firm has a market capitalization of $6.14 billion, a P/E ratio of 23.53, a PEG ratio of 11.95 and a beta of 1.89. Louisiana-Pacific Co. has a fifty-two week low of $49.47 and a fifty-two week high of $95.70.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, May 8th. The building manufacturing company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.40. Louisiana-Pacific had a return on equity of 20.87% and a net margin of 9.74%. The company had revenue of $724.00 million for the quarter, compared to analyst estimates of $686.84 million. During the same quarter last year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. Research analysts expect that Louisiana-Pacific Co. will post 5.39 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.04 annualized dividend and a yield of 1.21%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 28.57%.

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.