Mirae Asset Global Investments Co. Ltd. lifted its holdings in Louisiana-Pacific Co. (NYSE:LPX – Free Report) by 12.0% during the 2nd quarter, Holdings Channel reports. The fund owned 354,276 shares of the building manufacturing company’s stock after acquiring an additional 37,891 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Louisiana-Pacific were worth $26,564,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of LPX. Zions Bancorporation N.A. acquired a new position in Louisiana-Pacific in the first quarter worth $25,000. Bartlett & Co. LLC bought a new position in shares of Louisiana-Pacific in the second quarter valued at about $30,000. Fifth Third Bancorp grew its holdings in Louisiana-Pacific by 36.5% during the 2nd quarter. Fifth Third Bancorp now owns 497 shares of the building manufacturing company’s stock worth $37,000 after acquiring an additional 133 shares during the last quarter. Atlas Capital Advisors LLC bought a new stake in Louisiana-Pacific during the 2nd quarter worth about $42,000. Finally, Spire Wealth Management increased its position in Louisiana-Pacific by 32.1% in the 1st quarter. Spire Wealth Management now owns 799 shares of the building manufacturing company’s stock valued at $43,000 after acquiring an additional 194 shares in the last quarter. 91.94% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, CAO Derek Nelson Doyle sold 1,500 shares of Louisiana-Pacific stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $58.65, for a total transaction of $87,975.00. Following the transaction, the chief accounting officer now owns 4,356 shares in the company, valued at approximately $255,479.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Louisiana-Pacific Trading Up 0.3 %
NYSE:LPX opened at $61.14 on Tuesday. The company has a current ratio of 2.80, a quick ratio of 1.38 and a debt-to-equity ratio of 0.23. Louisiana-Pacific Co. has a 1-year low of $49.47 and a 1-year high of $79.56. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 39.96 and a beta of 1.71. The business’s 50-day moving average price is $55.81 and its two-hundred day moving average price is $62.56.
Louisiana-Pacific (NYSE:LPX – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The building manufacturing company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.09. Louisiana-Pacific had a net margin of 4.22% and a return on equity of 15.51%. The business had revenue of $728.00 million for the quarter, compared to the consensus estimate of $724.35 million. During the same period last year, the company posted $1.72 EPS. Louisiana-Pacific’s revenue for the quarter was down 14.6% on a year-over-year basis. On average, equities analysts expect that Louisiana-Pacific Co. will post 3.02 earnings per share for the current year.
Louisiana-Pacific Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Friday, November 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Thursday, November 9th. Louisiana-Pacific’s dividend payout ratio is currently 62.75%.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through: Siding, Oriented Strand Board, and South America. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.
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