Wells Fargo & Company MN increased its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 88.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,769,279 shares of the construction company’s stock after purchasing an additional 830,446 shares during the quarter. Wells Fargo & Company MN owned 1.22% of Louisiana-Pacific worth $47,912,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in LPX. JPMorgan Chase & Co. raised its position in Louisiana-Pacific by 72.7% during the second quarter. JPMorgan Chase & Co. now owns 594,495 shares of the construction company’s stock valued at $14,334,000 after acquiring an additional 250,213 shares in the last quarter. Federated Investors Inc. PA raised its position in Louisiana-Pacific by 16.9% during the second quarter. Federated Investors Inc. PA now owns 154,320 shares of the construction company’s stock valued at $3,721,000 after acquiring an additional 22,326 shares in the last quarter. SG Americas Securities LLC raised its position in Louisiana-Pacific by 32.2% during the second quarter. SG Americas Securities LLC now owns 73,316 shares of the construction company’s stock valued at $1,768,000 after acquiring an additional 17,859 shares in the last quarter. IndexIQ Advisors LLC raised its position in Louisiana-Pacific by 42.6% during the second quarter. IndexIQ Advisors LLC now owns 76,835 shares of the construction company’s stock valued at $1,852,000 after acquiring an additional 22,940 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan purchased a new position in Louisiana-Pacific during the third quarter valued at approximately $271,000. 93.14% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on the company. Royal Bank Of Canada lifted their price target on Louisiana-Pacific and gave the company an “outperform” rating in a research report on Tuesday, September 26th. BMO Capital Markets cut Louisiana-Pacific from a “market perform” rating to an “underperform” rating and boosted their price objective for the company from $22.00 to $24.00 in a research report on Friday, September 29th. They noted that the move was a valuation call. Zacks Investment Research upgraded Louisiana-Pacific from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research report on Wednesday, October 18th. Longbow Research restated a “neutral” rating on shares of Louisiana-Pacific in a research report on Tuesday, October 10th. Finally, Stephens began coverage on Louisiana-Pacific in a research report on Tuesday, October 24th. They issued an “equal weight” rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.67.
Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Monday, November 6th. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.05). The firm had revenue of $718.30 million during the quarter, compared to analyst estimates of $731.47 million. Louisiana-Pacific had a return on equity of 20.27% and a net margin of 11.72%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 earnings per share. analysts forecast that Louisiana-Pacific Co. will post 2.08 earnings per share for the current year.
In other Louisiana-Pacific news, insider Rebecca Anne Barckley sold 5,128 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $27.00, for a total transaction of $138,456.00. Following the transaction, the insider now owns 7,305 shares of the company’s stock, valued at $197,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael Sims sold 5,871 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $27.06, for a total value of $158,869.26. Following the transaction, the senior vice president now directly owns 41,523 shares in the company, valued at approximately $1,123,612.38. The disclosure for this sale can be found here. Insiders own 1.48% of the company’s stock.
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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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