Pictet Asset Management Ltd. boosted its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 231.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 897,503 shares of the construction company’s stock after buying an additional 626,849 shares during the period. Pictet Asset Management Ltd.’s holdings in Louisiana-Pacific Corporation were worth $19,997,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Patten & Patten Inc. TN boosted its stake in Louisiana-Pacific Corporation by 7.7% in the first quarter. Patten & Patten Inc. TN now owns 40,875 shares of the construction company’s stock valued at $1,015,000 after buying an additional 2,925 shares during the period. Impala Asset Management LLC bought a new stake in shares of Louisiana-Pacific Corporation during the first quarter valued at approximately $6,855,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Louisiana-Pacific Corporation by 7.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 744,555 shares of the construction company’s stock valued at $18,480,000 after buying an additional 49,921 shares during the last quarter. Suntrust Banks Inc. bought a new stake in shares of Louisiana-Pacific Corporation during the first quarter valued at approximately $1,364,000. Finally, Prudential Financial Inc. boosted its stake in shares of Louisiana-Pacific Corporation by 117.2% in the first quarter. Prudential Financial Inc. now owns 200,880 shares of the construction company’s stock valued at $4,986,000 after buying an additional 108,380 shares during the last quarter. Institutional investors own 94.99% of the company’s stock.

Louisiana-Pacific Corporation (NYSE:LPX) opened at 24.08 on Friday. The firm has a 50-day moving average price of $24.70 and a 200 day moving average price of $23.94. Louisiana-Pacific Corporation has a 52 week low of $17.08 and a 52 week high of $26.93. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 13.71 and a beta of 1.34.

Louisiana-Pacific Corporation (NYSE:LPX) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. The business had revenue of $694 million during the quarter, compared to the consensus estimate of $700.73 million. Louisiana-Pacific Corporation had a return on equity of 17.13% and a net margin of 10.50%. Louisiana-Pacific Corporation’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. On average, equities research analysts forecast that Louisiana-Pacific Corporation will post $1.90 earnings per share for the current fiscal year.

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Several analysts recently commented on the company. Zacks Investment Research upgraded Louisiana-Pacific Corporation from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Thursday, August 3rd. BidaskClub cut Louisiana-Pacific Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BMO Capital Markets reiterated a “hold” rating and issued a $22.00 target price on shares of Louisiana-Pacific Corporation in a report on Thursday, July 27th. Royal Bank Of Canada reiterated a “buy” rating and issued a $32.00 target price on shares of Louisiana-Pacific Corporation in a report on Tuesday, May 23rd. Finally, TD Securities reiterated a “hold” rating on shares of Louisiana-Pacific Corporation in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $27.00.

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, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.

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Institutional Ownership by Quarter for Louisiana-Pacific Corporation (NYSE:LPX)

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