Sterling Capital Management LLC Lowers Position in Louisiana-Pacific Corporation $LPX

Sterling Capital Management LLC trimmed its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 56.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,489 shares of the building manufacturing company’s stock after selling 49,613 shares during the quarter. Sterling Capital Management LLC’s holdings in Louisiana-Pacific were worth $2,800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LPX. Citigroup Inc. lifted its stake in Louisiana-Pacific by 48.9% during the third quarter. Citigroup Inc. now owns 95,161 shares of the building manufacturing company’s stock worth $8,454,000 after purchasing an additional 31,244 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Louisiana-Pacific by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,549,853 shares of the building manufacturing company’s stock valued at $137,666,000 after buying an additional 28,535 shares in the last quarter. Eminence Capital LP raised its holdings in shares of Louisiana-Pacific by 7.9% in the 3rd quarter. Eminence Capital LP now owns 3,115,959 shares of the building manufacturing company’s stock valued at $276,822,000 after buying an additional 228,521 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Louisiana-Pacific in the 3rd quarter valued at $14,285,000. Finally, Fernbridge Capital Management LP raised its holdings in shares of Louisiana-Pacific by 284.5% in the 3rd quarter. Fernbridge Capital Management LP now owns 820,755 shares of the building manufacturing company’s stock valued at $72,916,000 after buying an additional 607,319 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Price Performance

LPX stock opened at $82.32 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48. The firm has a market capitalization of $5.75 billion, a P/E ratio of 69.77, a P/E/G ratio of 2.07 and a beta of 1.60. The business’s 50-day moving average is $73.87 and its two-hundred day moving average is $79.80. Louisiana-Pacific Corporation has a 1 year low of $66.12 and a 1 year high of $102.86.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.24. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The business had revenue of $574.00 million during the quarter, compared to the consensus estimate of $569.99 million. During the same period in the previous year, the company posted $1.27 earnings per share. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. Analysts anticipate that Louisiana-Pacific Corporation will post 2 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. Louisiana-Pacific’s payout ratio is currently 101.69%.

Analyst Ratings Changes

A number of equities analysts recently commented on LPX shares. TD Securities upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. Jefferies Financial Group began coverage on shares of Louisiana-Pacific in a research report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price target on the stock. BMO Capital Markets raised shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a research note on Thursday, May 7th. Oppenheimer dropped their price objective on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Finally, Weiss Ratings raised shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.78.

About Louisiana-Pacific

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.