Raymond James & Associates raised its position in Louisiana-Pacific Co. (NYSE:LPX) by 178.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,386 shares of the construction company’s stock after buying an additional 23,976 shares during the quarter. Raymond James & Associates’ holdings in Louisiana-Pacific were worth $1,018,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LPX. BlackRock Inc. grew its holdings in Louisiana-Pacific by 6.5% in the 2nd quarter. BlackRock Inc. now owns 18,429,014 shares of the construction company’s stock valued at $501,638,000 after buying an additional 1,122,642 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Louisiana-Pacific by 27.8% in the 2nd 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 in the last quarter. Wells Fargo & Company MN grew its holdings in Louisiana-Pacific by 51.6% in the 2nd 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in Louisiana-Pacific by 7.7% in the 2nd 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 in the last quarter. Finally, Systematic Financial Management LP grew its holdings in Louisiana-Pacific by 543.7% in the 2nd quarter. Systematic Financial Management LP now owns 319,039 shares of the construction company’s stock valued at $8,684,000 after buying an additional 269,479 shares in the last quarter. 92.18% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:LPX opened at $21.80 on Friday. The firm has a market cap of $3.19 billion, a PE ratio of 9.36, a P/E/G ratio of 1.53 and a beta of 1.43. 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 fifty-two week low of $21.50 and a fifty-two week high of $32.16.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. The firm had revenue of $810.80 million during the quarter, compared to the consensus estimate of $788.55 million. Louisiana-Pacific had a return on equity of 28.21% and a net margin of 16.85%. On average, research analysts expect that Louisiana-Pacific Co. will post 2.93 earnings per share for the current year.

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

In other news, CEO William Bradley Southern sold 12,042 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $31.00, for a total transaction 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 approximately $6,092,058. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Emory Kinney sold 11,815 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $31.05, for a total value of $366,855.75. Following the sale, the chief financial officer now owns 32,042 shares of the company’s stock, valued at $994,904.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,287 shares of company stock valued at $1,180,736. Corporate insiders own 1.48% of the company’s stock.

A number of brokerages have commented on LPX. ValuEngine lowered Louisiana-Pacific from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Zacks Investment Research lowered Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a report on Friday, August 10th. Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Monday, July 16th. Finally, Longbow Research reaffirmed a “hold” rating on shares of Louisiana-Pacific in a report on Tuesday, October 9th. 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 stock presently has a consensus rating of “Hold” and an average price target 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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