Pictet Asset Management Holding SA Sells 29,562 Shares of Louisiana-Pacific Corporation $LPX

Pictet Asset Management Holding SA reduced its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 366,781 shares of the building manufacturing company’s stock after selling 29,562 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Louisiana-Pacific were worth $26,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Louisiana State Employees Retirement System purchased a new position in Louisiana-Pacific in the 1st quarter worth about $1,339,000. Strong Tower Advisory Services boosted its holdings in shares of Louisiana-Pacific by 1.9% during the 1st quarter. Strong Tower Advisory Services now owns 108,804 shares of the building manufacturing company’s stock valued at $7,915,000 after acquiring an additional 2,070 shares during the last quarter. Pullen Investment Management LLC purchased a new stake in shares of Louisiana-Pacific during the 1st quarter valued at about $2,896,000. Hsbc Holdings PLC grew its stake in shares of Louisiana-Pacific by 94.7% in the fourth quarter. Hsbc Holdings PLC now owns 21,916 shares of the building manufacturing company’s stock worth $1,781,000 after acquiring an additional 10,661 shares during the period. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Louisiana-Pacific by 55.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,186 shares of the building manufacturing company’s stock worth $177,000 after acquiring an additional 778 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Performance

LPX opened at $78.75 on Thursday. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 66.74, a PEG ratio of 1.98 and a beta of 1.60. The company’s 50 day moving average is $74.17 and its 200 day moving average is $79.65. Louisiana-Pacific Corporation has a 12-month low of $66.12 and a 12-month high of $102.86.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The company had revenue of $574.00 million during the quarter, compared to analyst estimates of $569.99 million. During the same period in the previous year, the business posted $1.27 earnings per share. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, equities research analysts predict that Louisiana-Pacific Corporation will post 2 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.5%. Louisiana-Pacific’s payout ratio is 101.69%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Zacks Research upgraded shares of Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Oppenheimer decreased their target price on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Barclays decreased their target price on shares of Louisiana-Pacific from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. BMO Capital Markets upgraded Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price target on the stock in a research note on Thursday, May 7th. Finally, Jefferies Financial Group assumed coverage on Louisiana-Pacific in a report on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 price objective for the company. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.78.

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.