Schroder Investment Management Group Has $22.11 Million Holdings in Louisiana-Pacific Co. (LPX)
Schroder Investment Management Group boosted its stake in Louisiana-Pacific Co. (NYSE:LPX) by 4,646.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 821,100 shares of the construction company’s stock after acquiring an additional 803,800 shares during the quarter. Schroder Investment Management Group owned about 0.58% of Louisiana-Pacific worth $22,112,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Synovus Financial Corp boosted its holdings in Louisiana-Pacific by 174.8% in the 2nd quarter. Synovus Financial Corp now owns 4,672 shares of the construction company’s stock worth $127,000 after acquiring an additional 2,972 shares during the period. Cerebellum GP LLC purchased a new position in shares of Louisiana-Pacific during the 2nd quarter valued at approximately $174,000. Bayesian Capital Management LP purchased a new position in shares of Louisiana-Pacific during the 1st quarter valued at approximately $247,000. NumerixS Investment Technologies Inc boosted its stake in shares of Louisiana-Pacific by 36.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,250 shares of the construction company’s stock valued at $249,000 after buying an additional 2,450 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors purchased a new position in shares of Louisiana-Pacific during the 2nd quarter valued at approximately $265,000. Hedge funds and other institutional investors own 92.25% of the company’s stock.
In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 7,000 shares of the stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $29.25, for a total value of $204,750.00. Following the sale, the director now directly owns 18,115 shares of the company’s stock, valued at $529,863.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Bradley Southern sold 12,042 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $31.00, for a total value of $373,302.00. Following the completion of the sale, the chief executive officer now directly owns 196,518 shares in the company, valued at $6,092,058. The disclosure for this sale can be found here. Insiders sold 38,287 shares of company stock worth $1,180,736 over the last ninety days. 0.50% of the stock is owned by corporate insiders.
Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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%. Sell-side analysts expect that Louisiana-Pacific Co. will post 3.1 earnings per share for the current year.
Louisiana-Pacific announced that its Board of Directors has authorized a stock buyback program on Tuesday, August 7th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several research firms have recently commented on LPX. Zacks Investment Research cut Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 10th. 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 report on Monday, July 16th. ValuEngine lowered Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, Longbow Research reissued a “hold” rating on shares of Louisiana-Pacific in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target 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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