Granite Investment Partners LLC Sells 52,932 Shares of Louisiana-Pacific Corporation $LPX

Granite Investment Partners LLC trimmed its position in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 32.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 111,552 shares of the building manufacturing company’s stock after selling 52,932 shares during the quarter. Granite Investment Partners LLC’s holdings in Louisiana-Pacific were worth $9,910,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC raised its stake in Louisiana-Pacific by 128.6% during the 1st quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock worth $16,259,000 after buying an additional 99,455 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Louisiana-Pacific in the first quarter worth about $273,000. Goldman Sachs Group Inc. increased its holdings in shares of Louisiana-Pacific by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock worth $25,274,000 after acquiring an additional 18,413 shares in the last quarter. Empowered Funds LLC raised its position in shares of Louisiana-Pacific by 207.1% during the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock worth $2,596,000 after purchasing an additional 19,029 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Louisiana-Pacific by 15.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company’s stock valued at $20,747,000 after purchasing an additional 29,846 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Transactions at Louisiana-Pacific

In related news, CEO William Bradley Southern sold 14,166 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $89.29, for a total transaction of $1,264,882.14. Following the completion of the transaction, the chief executive officer directly owned 461,719 shares of the company’s stock, valued at approximately $41,226,889.51. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 155,842 shares of company stock worth $13,912,978 in the last 90 days. Corporate insiders own 1.42% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on LPX shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Louisiana-Pacific in a research note on Monday, December 29th. Truist Financial upped their price target on shares of Louisiana-Pacific from $102.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Barclays increased their price objective on shares of Louisiana-Pacific from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Zacks Research upgraded shares of Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Finally, Oppenheimer started coverage on shares of Louisiana-Pacific in a research note on Thursday, February 5th. They issued an “outperform” rating for the company. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Louisiana-Pacific has an average rating of “Moderate Buy” and a consensus price target of $106.33.

Louisiana-Pacific Stock Performance

Shares of LPX stock opened at $81.27 on Monday. Louisiana-Pacific Corporation has a 12 month low of $73.42 and a 12 month high of $103.25. The company’s fifty day simple moving average is $88.00 and its 200-day simple moving average is $88.36. The firm has a market cap of $5.68 billion, a PE ratio of 38.89 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.

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

Louisiana-Pacific Increases Dividend

The business also recently announced 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. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, February 27th. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 53.59%.

Louisiana-Pacific 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.