Federated Hermes Inc. Reduces Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Federated Hermes Inc. lowered its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 9.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 6,471 shares of the building manufacturing company’s stock after selling 662 shares during the quarter. Federated Hermes Inc.’s holdings in Louisiana-Pacific were worth $533,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LPX. Allspring Global Investments Holdings LLC boosted its stake in Louisiana-Pacific by 48,193.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 162,267 shares of the building manufacturing company’s stock valued at $13,616,000 after acquiring an additional 161,931 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Louisiana-Pacific by 3.5% during the first quarter. Russell Investments Group Ltd. now owns 215,051 shares of the building manufacturing company’s stock worth $18,045,000 after buying an additional 7,367 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Louisiana-Pacific by 83.8% during 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 acquiring an additional 712,671 shares during the last quarter. Diversified Trust Co acquired a new stake in Louisiana-Pacific during the 2nd quarter worth approximately $590,000. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Louisiana-Pacific by 16.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,648 shares of the building manufacturing company’s stock valued at $3,914,000 after purchasing an additional 6,533 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

LPX has been the topic of several analyst reports. BMO Capital Markets downgraded 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 report on Thursday, August 8th. DA Davidson upped their price objective on Louisiana-Pacific from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Truist Financial reissued a “buy” rating and issued a $105.00 target price (up previously from $101.00) on shares of Louisiana-Pacific in a report on Thursday, August 8th. Royal Bank of Canada upped their price target on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Bank of America raised their price objective on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the company 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 assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.67.

Insider Buying and Selling

In other Louisiana-Pacific news, CEO William Bradley Southern sold 32,600 shares of the firm’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 directly owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.30, for a total value of $245,750.00. Following the completion of the transaction, the director now directly owns 21,005 shares in the company, valued at $2,064,791.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of the firm’s 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 directly owns 596,886 shares in the company, valued at $55,773,027.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,900 shares of company stock worth $3,368,774. 1.26% of the stock is owned by corporate insiders.

Louisiana-Pacific Stock Performance

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. The company has a market capitalization of $7.63 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 0.60 and a beta of 1.88. The firm has a 50-day moving average price of $95.48 and a two-hundred day moving average price of $87.35. Louisiana-Pacific Co. has a twelve month low of $49.47 and a twelve month high of $106.81.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.23. The firm had revenue of $814.00 million during the quarter, compared to the consensus estimate of $797.26 million. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. The company’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 EPS. As a group, research analysts expect that Louisiana-Pacific Co. will post 5.05 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a dividend of $0.26 per share. 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 payout ratio is currently 28.57%.

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.