Veracity Capital LLC cut its stake in Louisiana-Pacific Co. (NYSE:LPX) by 17.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,545 shares of the building manufacturing company’s stock after selling 955 shares during the quarter. Veracity Capital LLC’s holdings in Louisiana-Pacific were worth $279,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of LPX. FMR LLC raised its holdings in Louisiana-Pacific by 256.3% in the 1st quarter. FMR LLC now owns 459,499 shares of the building manufacturing company’s stock worth $11,203,000 after purchasing an additional 330,547 shares in the last quarter. Amundi Asset Management US Inc. raised its holdings in Louisiana-Pacific by 6.4% in the 1st quarter. Amundi Asset Management US Inc. now owns 285,144 shares of the building manufacturing company’s stock worth $15,814,000 after purchasing an additional 17,188 shares in the last quarter. Eaton Vance Management bought a new position in Louisiana-Pacific in the 1st quarter worth $31,000. Point72 Asset Management L.P. bought a new position in Louisiana-Pacific in the 1st quarter worth $1,808,000. Finally, Principal Financial Group Inc. raised its holdings in Louisiana-Pacific by 10.8% in the 1st quarter. Principal Financial Group Inc. now owns 382,368 shares of the building manufacturing company’s stock worth $21,206,000 after purchasing an additional 37,267 shares in the last quarter. Institutional investors and hedge funds own 94.82% of the company’s stock.
In other news, CEO William Bradley Southern acquired 5,350 shares of the business’s stock in a transaction that occurred on Tuesday, November 16th. The shares were bought at an average cost of $67.24 per share, with a total value of $359,734.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Monday, November 1st. The building manufacturing company reported $3.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.42 by $0.45. Louisiana-Pacific had a net margin of 32.55% and a return on equity of 101.78%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $1.56 EPS. As a group, research analysts predict that Louisiana-Pacific Co. will post 13.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Monday, November 8th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, November 5th. Louisiana-Pacific’s dividend payout ratio (DPR) is 5.10%.
Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Louisiana-Pacific from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a research note on Monday, October 18th. TD Securities increased their price target on shares of Louisiana-Pacific from $67.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, November 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.33.
Louisiana-Pacific Corp. engages in designing, manufacturing and marketing of products for the new home construction, repair and remodeling and outdoor structures markets. It operates through the following four segments: Siding, Oriented Strand Board (OSB), Engineered Wood Products, and South America.
See Also: Consumer Price Index (CPI)
Want to see what other hedge funds are holding LPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Louisiana-Pacific Co. (NYSE:LPX).
Receive News & Ratings for Louisiana-Pacific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Louisiana-Pacific and related companies with MarketBeat.com's FREE daily email newsletter.