BlackRock Inc. boosted its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,429,014 shares of the construction company’s stock after buying an additional 1,122,642 shares during the period. BlackRock Inc. owned approximately 12.69% of Louisiana-Pacific worth $501,638,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of LPX. Millennium Management LLC boosted its stake in Louisiana-Pacific by 78.2% during the first quarter. Millennium Management LLC now owns 5,880,551 shares of the construction company’s stock valued at $169,183,000 after buying an additional 2,581,310 shares during the period. Acadian Asset Management LLC boosted its stake in Louisiana-Pacific by 27.8% during the second quarter. Acadian Asset Management LLC now owns 2,860,671 shares of the construction company’s stock valued at $77,868,000 after buying an additional 623,093 shares during the period. Victory Capital Management Inc. bought a new stake in Louisiana-Pacific during the first quarter valued at $16,624,000. Wells Fargo & Company MN boosted its stake in Louisiana-Pacific by 51.6% during the second quarter. Wells Fargo & Company MN now owns 1,379,325 shares of the construction company’s stock valued at $37,546,000 after buying an additional 469,279 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Louisiana-Pacific by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 4,518,427 shares of the construction company’s stock valued at $122,991,000 after buying an additional 321,522 shares during the period. 92.26% of the stock is owned by institutional investors.

Shares of LPX stock opened at $29.47 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.68 and a quick ratio of 4.57. Louisiana-Pacific Co. has a 12-month low of $25.57 and a 12-month high of $31.19. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.90 and a beta of 1.47.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Louisiana-Pacific had a return on equity of 28.21% and a net margin of 16.85%. The firm had revenue of $810.80 million during the quarter, compared to analyst estimates of $788.55 million. equities research analysts anticipate that Louisiana-Pacific Co. will post 3.1 earnings per share for the current fiscal year.

Louisiana-Pacific announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 7th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the construction company to reacquire up to 3.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, August 31st. Shareholders of record on Friday, August 17th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Thursday, August 16th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 22.32%.

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 7,000 shares of Louisiana-Pacific stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $29.25, for a total transaction of $204,750.00. Following the completion of the sale, the director now owns 18,115 shares of the company’s stock, valued at $529,863.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.48% of the company’s stock.

Several equities research analysts recently issued reports on the company. ValuEngine lowered Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research lowered Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. Finally, Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Monday, July 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Louisiana-Pacific presently has a consensus rating of “Hold” and a consensus target price of $33.25.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.

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

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