ClariVest Asset Management LLC Acquires New Stake in Louisiana-Pacific Corporation (LPX)

ClariVest Asset Management LLC acquired a new position in Louisiana-Pacific Corporation (NYSE:LPX) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 448,540 shares of the construction company’s stock, valued at approximately $11,133,000. ClariVest Asset Management LLC owned approximately 0.31% of Louisiana-Pacific Corporation as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. increased its position in shares of Louisiana-Pacific Corporation by 34.5% in the first quarter. Alliancebernstein L.P. now owns 342,607 shares of the construction company’s stock worth $8,504,000 after buying an additional 87,940 shares during the last quarter. Westpac Banking Corp bought a new position in shares of Louisiana-Pacific Corporation during the first quarter worth approximately $2,864,000. American International Group Inc. increased its position in shares of Louisiana-Pacific Corporation by 5.3% in the first quarter. American International Group Inc. now owns 371,948 shares of the construction company’s stock worth $9,232,000 after buying an additional 18,733 shares during the last quarter. EAM Investors LLC acquired a new position in shares of Louisiana-Pacific Corporation during the first quarter worth about $3,104,000. Finally, SG Americas Securities LLC raised its position in shares of Louisiana-Pacific Corporation by 179.8% in the first quarter. SG Americas Securities LLC now owns 55,457 shares of the construction company’s stock worth $1,376,000 after buying an additional 124,931 shares during the period. Hedge funds and other institutional investors own 93.56% of the company’s stock.

Institutional Ownership by Quarter for Louisiana-Pacific Corporation (NYSE:LPX)

Louisiana-Pacific Corporation (NYSE:LPX) opened at 24.14 on Friday. The stock’s 50 day moving average price is $23.62 and its 200-day moving average price is $22.60. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 18.06 and a beta of 1.40. Louisiana-Pacific Corporation has a one year low of $15.74 and a one year high of $26.93.

Louisiana-Pacific Corporation (NYSE:LPX) last announced its quarterly earnings results on Friday, May 5th. The construction company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Louisiana-Pacific Corporation had a net margin of 8.31% and a return on equity of 14.34%. The business had revenue of $611 million for the quarter, compared to analysts’ expectations of $607.21 million. During the same quarter last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. Analysts forecast that Louisiana-Pacific Corporation will post $1.68 earnings per share for the current year.

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LPX has been the subject of a number of analyst reports. Vertical Research lowered Louisiana-Pacific Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Zacks Investment Research lowered Louisiana-Pacific Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 10th. Royal Bank Of Canada restated a “buy” rating and issued a $32.00 price objective on shares of Louisiana-Pacific Corporation in a report on Tuesday, May 23rd. BidaskClub upgraded Louisiana-Pacific Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, ValuEngine raised Louisiana-Pacific Corporation from a “hold” rating to a “buy” rating in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.40.

Louisiana-Pacific Corporation Company Profile

Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.

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