Louisiana-Pacific Corporation (LPX) Stake Reduced by First Mercantile Trust Co.

First Mercantile Trust Co. cut its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 61.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,885 shares of the construction company’s stock after selling 17,034 shares during the period. First Mercantile Trust Co.’s holdings in Louisiana-Pacific Corporation were worth $262,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Smith Asset Management Group LP raised its stake in shares of Louisiana-Pacific Corporation by 0.7% in the second quarter. Smith Asset Management Group LP now owns 147,092 shares of the construction company’s stock valued at $3,546,000 after buying an additional 1,020 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Louisiana-Pacific Corporation by 0.5% in the second quarter. Teacher Retirement System of Texas now owns 11,534 shares of the construction company’s stock valued at $278,000 after buying an additional 54 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Louisiana-Pacific Corporation by 1.7% in the second quarter. Arizona State Retirement System now owns 61,000 shares of the construction company’s stock valued at $1,471,000 after buying an additional 1,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Louisiana-Pacific Corporation by 4.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 774,362 shares of the construction company’s stock valued at $18,670,000 after buying an additional 29,807 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Louisiana-Pacific Corporation by 36.1% in the second quarter. Canada Pension Plan Investment Board now owns 399,600 shares of the construction company’s stock valued at $9,634,000 after buying an additional 105,900 shares during the last quarter. 93.94% of the stock is owned by institutional investors.

Shares of Louisiana-Pacific Corporation (NYSE:LPX) opened at 24.08 on Friday. The stock’s 50 day moving average is $24.68 and its 200-day moving average is $24.10. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 13.71 and a beta of 1.34. Louisiana-Pacific Corporation has a 12-month low of $17.08 and a 12-month high of $26.93.

Louisiana-Pacific Corporation (NYSE:LPX) last released its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.03. The firm had revenue of $694 million for the quarter, compared to analyst estimates of $700.73 million. Louisiana-Pacific Corporation had a return on equity of 17.13% and a net margin of 10.50%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. Equities analysts anticipate that Louisiana-Pacific Corporation will post $1.90 EPS for the current fiscal year.

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Several brokerages recently commented on LPX. Zacks Investment Research lowered shares of Louisiana-Pacific Corporation from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. BidaskClub lowered shares of Louisiana-Pacific Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BMO Capital Markets reissued a “hold” rating and issued a $22.00 price target on shares of Louisiana-Pacific Corporation in a report on Thursday, July 27th. ValuEngine raised shares of Louisiana-Pacific Corporation from a “hold” rating to a “buy” rating in a report on Thursday, May 25th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $32.00 price target on shares of Louisiana-Pacific Corporation in a report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $27.00.

About Louisiana-Pacific Corporation

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

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