Woodmont Investment Counsel LLC Sells 1,216 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Woodmont Investment Counsel LLC lessened its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 27.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,154 shares of the building manufacturing company’s stock after selling 1,216 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Louisiana-Pacific were worth $339,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LPX. William Blair Investment Management LLC bought a new position in shares of Louisiana-Pacific in the second quarter valued at approximately $91,053,000. Marshall Wace LLP lifted its stake in Louisiana-Pacific by 92.4% during the 2nd quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock valued at $103,363,000 after acquiring an additional 602,803 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Louisiana-Pacific by 188.3% during the 2nd quarter. Renaissance Technologies LLC now owns 447,400 shares of the building manufacturing company’s stock worth $36,834,000 after acquiring an additional 292,200 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Louisiana-Pacific by 768.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 270,341 shares of the building manufacturing company’s stock worth $22,257,000 after acquiring an additional 239,212 shares in the last quarter. Finally, Natixis purchased a new stake in shares of Louisiana-Pacific in the first quarter valued at about $16,371,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Louisiana-Pacific Stock Up 0.6 %

LPX stock opened at $108.82 on Friday. The stock has a fifty day moving average of $102.11 and a 200-day moving average of $93.09. Louisiana-Pacific Co. has a fifty-two week low of $57.13 and a fifty-two week high of $113.04. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 4.63 and a beta of 1.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.95 and a current ratio of 3.38.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The firm had revenue of $814.00 million during the quarter, compared to analyst estimates of $797.26 million. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The company’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. As a group, equities research analysts predict that Louisiana-Pacific Co. will post 5.12 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a yield of 0.96%. Louisiana-Pacific’s payout ratio is 16.91%.

Insiders Place Their Bets

In other news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.30, for a total value of $245,750.00. Following the completion of the transaction, the director now directly owns 21,005 shares in the company, valued at approximately $2,064,791.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total value of $3,046,144.00. Following the sale, the chief executive officer now directly owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.30, for a total transaction of $245,750.00. Following the transaction, the director now directly owns 21,005 shares of the company’s stock, valued at approximately $2,064,791.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LPX shares. StockNews.com upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Saturday, November 2nd. Truist Financial boosted their target price on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group increased their price target on Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a research report on Wednesday. DA Davidson boosted their price objective on Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada upped their price objective on Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $101.78.

About Louisiana-Pacific

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.