1,039,981 Shares in Louisiana-Pacific Co. (NYSE:LPX) Purchased by Channing Capital Management LLC

Channing Capital Management LLC bought a new stake in Louisiana-Pacific Co. (NYSE:LPX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,039,981 shares of the building manufacturing company’s stock, valued at approximately $73,662,000. Louisiana-Pacific makes up approximately 2.2% of Channing Capital Management LLC’s holdings, making the stock its 10th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. boosted its position in shares of Louisiana-Pacific by 57.8% in the 3rd quarter. Invesco Ltd. now owns 796,563 shares of the building manufacturing company’s stock worth $44,026,000 after buying an additional 291,833 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Louisiana-Pacific by 356.1% in the fourth quarter. New York State Common Retirement Fund now owns 311,758 shares of the building manufacturing company’s stock valued at $22,082,000 after purchasing an additional 243,409 shares in the last quarter. Tudor Investment Corp Et Al acquired a new stake in shares of Louisiana-Pacific in the third quarter valued at approximately $10,148,000. Assenagon Asset Management S.A. increased its stake in shares of Louisiana-Pacific by 493.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 171,838 shares of the building manufacturing company’s stock worth $9,497,000 after purchasing an additional 142,868 shares in the last quarter. Finally, KLCM Advisors Inc. acquired a new position in shares of Louisiana-Pacific during the 3rd quarter worth approximately $7,326,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Trading Up 0.6 %

NYSE:LPX traded up $0.45 during mid-day trading on Friday, reaching $74.30. The company’s stock had a trading volume of 703,563 shares, compared to its average volume of 859,695. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.00 and a quick ratio of 1.54. The stock has a market cap of $5.37 billion, a P/E ratio of 30.33 and a beta of 1.87. The company’s fifty day simple moving average is $77.05 and its two-hundred day simple moving average is $68.86. Louisiana-Pacific Co. has a twelve month low of $49.47 and a twelve month high of $84.54.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, February 14th. The building manufacturing company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.17. Louisiana-Pacific had a net margin of 6.90% and a return on equity of 15.65%. The business had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $618.60 million. During the same period last year, the company earned $0.61 earnings per share. The company’s quarterly revenue was down 6.7% on a year-over-year basis. On average, equities analysts predict that Louisiana-Pacific Co. will post 4.89 EPS for the current year.

Louisiana-Pacific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, February 22nd. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 1.40%. Louisiana-Pacific’s payout ratio is currently 42.45%.

Insider Activity

In related news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $77.58, for a total value of $193,950.00. Following the transaction, the director now directly owns 25,995 shares of the company’s stock, valued at approximately $2,016,692.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

LPX has been the topic of a number of analyst reports. DA Davidson reiterated a “buy” rating and set a $76.00 target price on shares of Louisiana-Pacific in a report on Tuesday, February 13th. Loop Capital initiated coverage on Louisiana-Pacific in a research report on Friday. They set a “hold” rating and a $82.00 price objective for the company. TD Cowen reissued a “hold” rating and issued a $75.00 target price on shares of Louisiana-Pacific in a research note on Thursday, January 11th. TD Securities raised their price target on shares of Louisiana-Pacific from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Thursday, February 15th. Finally, TheStreet lowered shares of Louisiana-Pacific from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.75.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.