Principal Financial Group Inc. Trims Holdings in Louisiana-Pacific Corporation $LPX

Principal Financial Group Inc. lowered its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 6.7% in the third quarter, Holdings Channel reports. The firm owned 413,738 shares of the building manufacturing company’s stock after selling 29,789 shares during the quarter. Principal Financial Group Inc.’s holdings in Louisiana-Pacific were worth $36,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Keybank National Association OH purchased a new stake in shares of Louisiana-Pacific in the third quarter valued at about $358,000. Arizona State Retirement System increased its position in Louisiana-Pacific by 1.3% in the 3rd quarter. Arizona State Retirement System now owns 18,533 shares of the building manufacturing company’s stock valued at $1,646,000 after acquiring an additional 240 shares during the period. New York State Common Retirement Fund raised its stake in Louisiana-Pacific by 9.0% during the 3rd quarter. New York State Common Retirement Fund now owns 214,410 shares of the building manufacturing company’s stock valued at $19,048,000 after acquiring an additional 17,736 shares during the last quarter. Truist Financial Corp lifted its position in Louisiana-Pacific by 18.7% during the 3rd quarter. Truist Financial Corp now owns 13,291 shares of the building manufacturing company’s stock worth $1,181,000 after acquiring an additional 2,094 shares during the period. Finally, Riverwater Partners LLC grew its stake in shares of Louisiana-Pacific by 47.5% in the 3rd quarter. Riverwater Partners LLC now owns 17,527 shares of the building manufacturing company’s stock valued at $1,557,000 after purchasing an additional 5,641 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $93.97 on Friday. The business has a 50 day moving average price of $86.25 and a 200 day moving average price of $88.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.93 and a quick ratio of 1.72. The company has a market capitalization of $6.54 billion, a P/E ratio of 30.41 and a beta of 1.81. Louisiana-Pacific Corporation has a 1-year low of $73.42 and a 1-year high of $119.91.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Wednesday, November 5th. The building manufacturing company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $663.00 million during the quarter, compared to analyst estimates of $670.26 million. Louisiana-Pacific had a net margin of 7.69% and a return on equity of 14.90%. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the company posted $1.22 EPS. Sell-side analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Louisiana-Pacific news, CEO William Bradley Southern sold 21,252 shares of Louisiana-Pacific stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $88.19, for a total transaction of $1,874,213.88. Following the completion of the transaction, the chief executive officer owned 460,883 shares in the company, valued at approximately $40,645,271.77. The trade was a 4.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 141,676 shares of company stock valued at $12,648,096. 1.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LPX has been the subject of several analyst reports. Royal Bank Of Canada cut their price target on Louisiana-Pacific from $114.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. DA Davidson reissued a “buy” rating and issued a $117.00 price objective on shares of Louisiana-Pacific in a research note on Wednesday, January 28th. TD Securities reduced their target price on shares of Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating for the company in a research note on Thursday, November 6th. Barclays lifted their target price on shares of Louisiana-Pacific from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Thursday, January 15th. Finally, Oppenheimer began coverage on shares of Louisiana-Pacific in a report on Thursday. They set an “outperform” rating for the company. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $106.57.

About Louisiana-Pacific

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.