Michael Emory Kinney Sells 11,815 Shares of Louisiana-Pacific Co. (LPX) Stock
Louisiana-Pacific Co. (NYSE:LPX) CFO Michael Emory Kinney sold 11,815 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $31.05, for a total value of $366,855.75. Following the transaction, the chief financial officer now directly owns 32,042 shares in the company, valued at approximately $994,904.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of LPX opened at $30.93 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.57 and a current ratio of 5.68. The firm has a market capitalization of $4.53 billion, a P/E ratio of 10.11, a PEG ratio of 2.05 and a beta of 1.47. Louisiana-Pacific Co. has a twelve month low of $25.57 and a twelve month high of $32.16.
Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.10. The business had revenue of $810.80 million for the quarter, compared to analyst estimates of $788.55 million. Louisiana-Pacific had a return on equity of 28.21% and a net margin of 16.85%. equities research analysts expect that Louisiana-Pacific Co. will post 3.1 EPS for the current year.
Louisiana-Pacific declared that its Board of Directors has authorized a stock repurchase program on Tuesday, August 7th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
Institutional investors and hedge funds have recently modified their holdings of the stock. GAM Holding AG raised its position in shares of Louisiana-Pacific by 41.0% in the 2nd quarter. GAM Holding AG now owns 60,915 shares of the construction company’s stock worth $1,658,000 after buying an additional 17,722 shares during the period. Van ECK Associates Corp raised its position in Louisiana-Pacific by 3.5% in the second quarter. Van ECK Associates Corp now owns 1,483,442 shares of the construction company’s stock valued at $40,379,000 after purchasing an additional 50,410 shares during the period. HL Financial Services LLC raised its position in Louisiana-Pacific by 5.7% in the second quarter. HL Financial Services LLC now owns 283,312 shares of the construction company’s stock valued at $7,712,000 after purchasing an additional 15,195 shares during the period. Schwab Charles Investment Management Inc. raised its position in Louisiana-Pacific by 13.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,130,293 shares of the construction company’s stock valued at $30,767,000 after purchasing an additional 136,163 shares during the period. Finally, CIBC World Markets Inc. purchased a new position in Louisiana-Pacific in the first quarter valued at about $326,000. 92.26% of the stock is currently owned by institutional investors and hedge funds.
LPX has been the topic of a number of recent analyst reports. ValuEngine raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 23rd. Zacks Investment Research raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Monday, July 9th. Finally, Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, July 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.25.
Louisiana-Pacific Company Profile
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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