Insider Buying: Louisiana-Pacific (NYSE:LPX) Director Buys $1,709,800.00 in Stock

Louisiana-Pacific Corporation (NYSE:LPX) Director F Nicholas Grasberger III bought 20,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were bought at an average price of $85.49 per share, with a total value of $1,709,800.00. Following the completion of the transaction, the director directly owned 38,954 shares in the company, valued at approximately $3,330,177.46. This trade represents a 105.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Louisiana-Pacific Trading Down 3.3%

Shares of NYSE LPX opened at $82.49 on Thursday. Louisiana-Pacific Corporation has a twelve month low of $73.42 and a twelve month high of $103.25. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 39.47 and a beta of 1.81. The company has a quick ratio of 1.53, a current ratio of 2.78 and a debt-to-equity ratio of 0.20. The company’s fifty day moving average is $87.88 and its 200-day moving average is $88.21.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Tuesday, February 17th. The building manufacturing company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.09. Louisiana-Pacific had a return on equity of 10.72% and a net margin of 5.39%.The business had revenue of $567.00 million for the quarter, compared to the consensus estimate of $589.96 million. During the same quarter last year, the business posted $1.03 EPS. The firm’s revenue was down 16.7% compared to the same quarter last year. Equities research analysts predict that Louisiana-Pacific Corporation will post 5.27 EPS for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $0.30 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.28. Louisiana-Pacific’s payout ratio is presently 53.59%.

Wall Street Analysts Forecast Growth

LPX has been the topic of a number of research reports. Oppenheimer began coverage on shares of Louisiana-Pacific in a research note on Thursday, February 5th. They issued an “outperform” rating on the stock. TD Securities cut their price objective on shares of Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Truist Financial increased their target price on Louisiana-Pacific from $102.00 to $108.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. DA Davidson dropped their price target on Louisiana-Pacific from $117.00 to $114.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Barclays upped their price objective on Louisiana-Pacific from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Hedge Funds Weigh In On Louisiana-Pacific

Large investors have recently modified their holdings of the business. North Ridge Wealth Advisors Inc. bought a new position in shares of Louisiana-Pacific in the 2nd quarter valued at about $26,000. Los Angeles Capital Management LLC acquired a new position in Louisiana-Pacific during the fourth quarter valued at approximately $29,000. Versant Capital Management Inc grew its stake in Louisiana-Pacific by 34.3% in the third quarter. Versant Capital Management Inc now owns 497 shares of the building manufacturing company’s stock valued at $44,000 after purchasing an additional 127 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Louisiana-Pacific by 291.2% during the 3rd quarter. Larson Financial Group LLC now owns 536 shares of the building manufacturing company’s stock worth $48,000 after purchasing an additional 399 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Louisiana-Pacific during the 4th quarter worth approximately $52,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.