Granite Investment Partners LLC Sells 52,932 Shares of Louisiana-Pacific Corporation $LPX

Granite Investment Partners LLC lowered its position in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 32.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,552 shares of the building manufacturing company’s stock after selling 52,932 shares during the quarter. Granite Investment Partners LLC owned approximately 0.16% of Louisiana-Pacific worth $9,910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LPX. Eminence Capital LP grew its stake in Louisiana-Pacific by 72.3% during the second quarter. Eminence Capital LP now owns 2,887,438 shares of the building manufacturing company’s stock worth $248,291,000 after buying an additional 1,211,495 shares during the last quarter. Norges Bank acquired a new position in shares of Louisiana-Pacific in the 2nd quarter worth approximately $72,299,000. Invesco Ltd. grew its position in Louisiana-Pacific by 94.8% during the 2nd quarter. Invesco Ltd. now owns 1,028,250 shares of the building manufacturing company’s stock worth $88,419,000 after acquiring an additional 500,449 shares during the last quarter. AQR Capital Management LLC increased its holdings in Louisiana-Pacific by 65.2% during the 2nd quarter. AQR Capital Management LLC now owns 594,896 shares of the building manufacturing company’s stock valued at $51,155,000 after purchasing an additional 234,734 shares in the last quarter. Finally, Fernbridge Capital Management LP acquired a new stake in Louisiana-Pacific during the 2nd quarter valued at $18,353,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LPX shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Louisiana-Pacific in a research note on Monday, December 29th. Oppenheimer assumed coverage on shares of Louisiana-Pacific in a research report on Thursday, February 5th. They set an “outperform” rating on the stock. Barclays raised their price objective on shares of Louisiana-Pacific from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $104.00 target price on shares of Louisiana-Pacific in a research note on Wednesday, February 18th. Finally, TD Securities decreased their price target on shares of Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating on the stock in a research note on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.33.

Louisiana-Pacific Price Performance

LPX opened at $81.27 on Monday. The company has a fifty day moving average price of $88.00 and a two-hundred day moving average price of $88.36. The firm has a market capitalization of $5.68 billion, a PE ratio of 38.89 and a beta of 1.81. Louisiana-Pacific Corporation has a 52 week low of $73.42 and a 52 week high of $103.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.53 and a current ratio of 2.78.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Tuesday, February 17th. The building manufacturing company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. Louisiana-Pacific had a return on equity of 10.72% and a net margin of 5.39%.The company had revenue of $567.00 million for the quarter, compared to the consensus estimate of $589.96 million. During the same quarter in the prior year, the business posted $1.03 EPS. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. As a group, analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, February 27th. Louisiana-Pacific’s dividend payout ratio (DPR) is 53.59%.

Insider Transactions at Louisiana-Pacific

In other news, CEO William Bradley Southern sold 55,346 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $91.66, for a total transaction of $5,073,014.36. Following the completion of the transaction, the chief executive officer directly owned 503,381 shares in the company, valued at approximately $46,139,902.46. The trade was a 9.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 155,842 shares of company stock worth $13,912,978 in the last quarter. 1.42% of the stock is currently owned by company insiders.

Louisiana-Pacific Company Profile

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.