Point72 DIFC Ltd Sells 451 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Point72 DIFC Ltd lowered its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 7.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,226 shares of the building manufacturing company’s stock after selling 451 shares during the period. Point72 DIFC Ltd’s holdings in Louisiana-Pacific were worth $430,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Marshall Wace LLP lifted its position in shares of Louisiana-Pacific by 92.4% in the second 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 in the last quarter. Xponance Inc. increased its stake in Louisiana-Pacific by 46.7% in the second quarter. Xponance Inc. now owns 11,194 shares of the building manufacturing company’s stock worth $922,000 after purchasing an additional 3,561 shares during the period. Magnetar Financial LLC bought a new stake in Louisiana-Pacific during the 2nd quarter valued at about $222,000. Ensign Peak Advisors Inc raised its position in Louisiana-Pacific by 57.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 35,427 shares of the building manufacturing company’s stock valued at $2,917,000 after purchasing an additional 12,950 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new stake in Louisiana-Pacific in the second quarter worth about $5,944,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LPX shares. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective (up previously from $101.00) on shares of Louisiana-Pacific in a research report on Thursday, August 8th. Royal Bank of Canada increased their price target on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Bank of America increased their target price on Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. The Goldman Sachs Group boosted their price objective on Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a research note on Thursday, August 8th. Finally, DA Davidson increased their target price on shares of Louisiana-Pacific from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Two research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $92.67.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $106.87 on Friday. The stock has a fifty day simple moving average of $96.50 and a 200-day simple moving average of $87.82. 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 stock has a market cap of $7.66 billion, a PE ratio of 29.36, a P/E/G ratio of 4.95 and a beta of 1.88. Louisiana-Pacific Co. has a twelve month low of $49.47 and a twelve month high of $108.50.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The company had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $797.26 million. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. The firm’s revenue was up 33.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 earnings per share. Equities analysts anticipate that Louisiana-Pacific Co. will post 5.04 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.04 dividend on an annualized basis and a yield of 0.97%. Louisiana-Pacific’s payout ratio is 28.57%.

Insider Buying and Selling

In other news, CEO William Bradley Southern sold 32,600 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 596,886 shares in the company, valued at $55,773,027.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ozey K. Horton, Jr. sold 800 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $96.10, for a total transaction of $76,880.00. Following the sale, the director now directly owns 29,008 shares of the company’s stock, valued at approximately $2,787,668.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William Bradley Southern sold 32,600 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 596,886 shares of the company’s stock, valued at $55,773,027.84. The disclosure for this sale can be found here. Insiders have sold 35,900 shares of company stock worth $3,368,774 in the last three months. Corporate insiders own 1.26% of the company’s stock.

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.