The Manufacturers Life Insurance Company Cuts Stake in Louisiana-Pacific Co. (NYSE:LPX)

The Manufacturers Life Insurance Company lessened its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,981 shares of the building manufacturing company’s stock after selling 1,324 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Louisiana-Pacific worth $4,609,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Eminence Capital LP increased its holdings in shares of Louisiana-Pacific by 31.4% in the 4th quarter. Eminence Capital LP now owns 2,056,991 shares of the building manufacturing company’s stock valued at $145,697,000 after acquiring an additional 491,641 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Louisiana-Pacific by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,740,249 shares of the building manufacturing company’s stock worth $146,026,000 after purchasing an additional 177,132 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Louisiana-Pacific by 92.4% during the 2nd quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock worth $103,363,000 after buying an additional 602,803 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Louisiana-Pacific in the 2nd quarter valued at $91,053,000. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Louisiana-Pacific by 6.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 925,514 shares of the building manufacturing company’s stock valued at $77,660,000 after buying an additional 57,966 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $108.21 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 business’s 50 day moving average is $98.45 and its two-hundred day moving average is $89.38. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 4.95 and a beta of 1.88. Louisiana-Pacific Co. has a 12-month low of $49.47 and a 12-month high of $109.73.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results 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 company had revenue of $814.00 million for the quarter, compared to analyst estimates of $797.26 million. During the same period in the previous year, the firm earned $0.55 EPS. The business’s revenue was up 33.2% on a year-over-year basis. Research analysts expect that Louisiana-Pacific Co. will post 5.04 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 dividend on an annualized basis and a yield of 0.96%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 28.57%.

Analysts Set New Price Targets

LPX has been the topic of several research reports. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up previously from $101.00) on shares of Louisiana-Pacific in a report on Thursday, August 8th. StockNews.com cut Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Bank of America raised their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. Royal Bank of Canada upped their price target on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, 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 research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $92.67.

Insider Activity

In related news, CEO William Bradley Southern sold 32,600 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 596,886 shares of the company’s stock, valued at $55,773,027.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Ozey K. Horton, Jr. sold 800 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $96.10, for a total value of $76,880.00. Following the completion of the transaction, the director now directly owns 29,008 shares of the company’s stock, valued at $2,787,668.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 596,886 shares of the company’s stock, valued at $55,773,027.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,900 shares of company stock worth $3,368,774. Company insiders own 1.26% of the company’s stock.

Louisiana-Pacific Company 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.