American International Group Inc. boosted its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 393,790 shares of the construction company’s stock after purchasing an additional 10,674 shares during the quarter. American International Group Inc. owned about 0.27% of Louisiana-Pacific worth $10,664,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Louisiana-Pacific by 9.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,500,326 shares of the construction company’s stock valued at $349,603,000 after purchasing an additional 1,302,444 shares during the last quarter. Iridian Asset Management LLC CT grew its position in Louisiana-Pacific by 71.6% during the 2nd quarter. Iridian Asset Management LLC CT now owns 4,846,075 shares of the construction company’s stock valued at $116,839,000 after purchasing an additional 2,021,510 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Louisiana-Pacific by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,793,951 shares of the construction company’s stock valued at $115,583,000 after purchasing an additional 95,195 shares during the last quarter. State Street Corp grew its position in Louisiana-Pacific by 4.5% during the 2nd quarter. State Street Corp now owns 4,649,675 shares of the construction company’s stock valued at $112,109,000 after purchasing an additional 202,141 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Louisiana-Pacific by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,412,507 shares of the construction company’s stock valued at $92,410,000 after purchasing an additional 375,243 shares during the last quarter. 93.12% of the stock is currently owned by institutional investors.
In other news, insider Rebecca Anne Barckley sold 5,128 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $27.00, for a total value of $138,456.00. Following the transaction, the insider now owns 7,305 shares in the company, valued at approximately $197,235. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Sims sold 5,871 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $27.06, for a total transaction of $158,869.26. Following the completion of the transaction, the senior vice president now owns 41,523 shares in the company, valued at approximately $1,123,612.38. The disclosure for this sale can be found here. Company insiders own 1.48% of the company’s stock.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Monday, November 6th. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). The company had revenue of $718.30 million for the quarter, compared to analysts’ expectations of $731.47 million. Louisiana-Pacific had a net margin of 11.72% and a return on equity of 20.27%. The business’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. equities research analysts forecast that Louisiana-Pacific Co. will post 2.07 EPS for the current fiscal year.
Several analysts recently commented on LPX shares. Zacks Investment Research raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $32.00 price target on shares of Louisiana-Pacific in a report on Wednesday, September 6th. BMO Capital Markets downgraded shares of Louisiana-Pacific from a “market perform” rating to an “underperform” rating and raised their price target for the company from $22.00 to $24.00 in a report on Friday, September 29th. They noted that the move was a valuation call. Longbow Research reaffirmed a “neutral” rating on shares of Louisiana-Pacific in a report on Tuesday, October 10th. Finally, Stephens initiated coverage on shares of Louisiana-Pacific in a report on Tuesday, October 24th. They set an “equal weight” rating and a $30.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $29.67.
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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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