Louisiana-Pacific Corporation (LPX) SVP Sells $163,448.25 in Stock
Louisiana-Pacific Corporation (NYSE:LPX) SVP Michael Sims sold 6,685 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $24.45, for a total value of $163,448.25. Following the completion of the sale, the senior vice president now owns 40,127 shares in the company, valued at approximately $981,105.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Louisiana-Pacific Corporation (NYSE:LPX) opened at 24.68 on Friday. The stock has a market cap of $3.55 billion, a P/E ratio of 24.03 and a beta of 1.14. Louisiana-Pacific Corporation has a 12-month low of $14.65 and a 12-month high of $24.70. The company has a 50 day moving average price of $20.24 and a 200 day moving average price of $19.46.
Louisiana-Pacific Corporation (NYSE:LPX) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. The company earned $550 million during the quarter, compared to the consensus estimate of $534.56 million. Louisiana-Pacific Corporation had a return on equity of 11.56% and a net margin of 6.71%. Louisiana-Pacific Corporation’s revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 earnings per share. Analysts anticipate that Louisiana-Pacific Corporation will post $1.56 earnings per share for the current fiscal year.
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Several equities research analysts recently issued reports on the company. DA Davidson upgraded Louisiana-Pacific Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $20.00 to $27.00 in a report on Thursday, February 9th. Bank of America Corporation downgraded Louisiana-Pacific Corporation from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 7th. Zacks Investment Research downgraded Louisiana-Pacific Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, February 8th. Royal Bank Of Canada boosted their price objective on Louisiana-Pacific Corporation from $25.00 to $26.00 and gave the company a “top pick” rating in a report on Thursday, February 9th. Finally, RBC Capital Markets reiterated a “buy” rating and issued a $25.00 price objective on shares of Louisiana-Pacific Corporation in a report on Friday, January 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.00.
A number of institutional investors have recently added to or reduced their stakes in LPX. Retirement Systems of Alabama increased its position in Louisiana-Pacific Corporation by 0.4% in the second quarter. Retirement Systems of Alabama now owns 185,428 shares of the company’s stock valued at $3,217,000 after buying an additional 817 shares during the last quarter. Prudential Financial Inc. increased its position in Louisiana-Pacific Corporation by 1.8% in the second quarter. Prudential Financial Inc. now owns 91,410 shares of the company’s stock valued at $1,586,000 after buying an additional 1,600 shares during the last quarter. Vanguard Group Inc. increased its position in Louisiana-Pacific Corporation by 3.7% in the second quarter. Vanguard Group Inc. now owns 10,669,714 shares of the company’s stock valued at $185,119,000 after buying an additional 385,623 shares during the last quarter. Stelliam Investment Management LP bought a new position in Louisiana-Pacific Corporation during the second quarter valued at $49,621,000. Finally, Anchor Bolt Capital LP bought a new position in Louisiana-Pacific Corporation during the second quarter valued at $2,561,000. 97.29% of the stock is owned by institutional investors.
About Louisiana-Pacific Corporation
Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments: North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
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