Louisiana-Pacific Co. (LPX) Holdings Lessened by Alambic Investment Management L.P.
Alambic Investment Management L.P. trimmed its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 56.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,379 shares of the construction company’s stock after selling 68,171 shares during the period. Alambic Investment Management L.P.’s holdings in Louisiana-Pacific were worth $1,453,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in LPX. Synovus Financial Corp increased its holdings in shares of Louisiana-Pacific by 174.8% in the 2nd quarter. Synovus Financial Corp now owns 4,672 shares of the construction company’s stock valued at $127,000 after acquiring an additional 2,972 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $131,000. Cerebellum GP LLC bought a new stake in shares of Louisiana-Pacific in the 2nd quarter valued at approximately $174,000. Zeke Capital Advisors LLC bought a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $205,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $247,000. 92.26% of the stock is currently owned by institutional investors.
Shares of LPX opened at $29.47 on Friday. The firm has a market cap of $4.22 billion, a P/E ratio of 12.65, a P/E/G ratio of 1.91 and a beta of 1.47. The company has a quick ratio of 4.57, a current ratio of 5.68 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Co. has a 12 month low of $25.57 and a 12 month high of $31.19.
Louisiana-Pacific declared that its Board of Directors has approved a share buyback program on Tuesday, August 7th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 3.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Friday, August 17th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, August 16th. This represents a $0.52 dividend on an annualized basis and a yield of 1.76%. Louisiana-Pacific’s payout ratio is currently 22.32%.
In related news, Director Lizanne C. Gottung sold 7,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 18,115 shares in the company, valued at approximately $529,863.75. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.48% of the stock is owned by corporate insiders.
A number of brokerages have recently weighed in on LPX. ValuEngine upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Wednesday, May 23rd. Zacks Investment Research downgraded Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, Bank of America upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a report on Monday, July 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $33.25.
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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