Summit Global Investments Sells 338 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Summit Global Investments lowered its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,170 shares of the building manufacturing company’s stock after selling 338 shares during the quarter. Summit Global Investments’ holdings in Louisiana-Pacific were worth $1,570,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its stake in Louisiana-Pacific by 582.3% in the third quarter. SG Americas Securities LLC now owns 11,361 shares of the building manufacturing company’s stock valued at $628,000 after buying an additional 9,696 shares in the last quarter. Woodmont Investment Counsel LLC acquired a new position in Louisiana-Pacific during the 3rd quarter worth approximately $242,000. Strategic Investment Advisors MI bought a new position in shares of Louisiana-Pacific during the 3rd quarter worth approximately $224,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Louisiana-Pacific by 18.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,918 shares of the building manufacturing company’s stock valued at $714,000 after purchasing an additional 1,976 shares during the last quarter. Finally, Shufro Rose & Co. LLC lifted its position in shares of Louisiana-Pacific by 50.0% in the third quarter. Shufro Rose & Co. LLC now owns 6,600 shares of the building manufacturing company’s stock worth $365,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Insider Activity at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $77.58, for a total value of $193,950.00. Following the transaction, the director now directly owns 25,995 shares in the company, valued at $2,016,692.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.26% of the stock is currently owned by corporate insiders.

Louisiana-Pacific Stock Performance

Louisiana-Pacific stock traded up $0.46 during mid-day trading on Friday, hitting $74.31. 703,563 shares of the company’s stock traded hands, compared to its average volume of 870,965. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.00 and a quick ratio of 1.54. The firm has a 50 day simple moving average of $77.05 and a two-hundred day simple moving average of $68.67. Louisiana-Pacific Co. has a fifty-two week low of $49.47 and a fifty-two week high of $84.54. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 30.33 and a beta of 1.87.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Wednesday, February 14th. The building manufacturing company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. Louisiana-Pacific had a net margin of 6.90% and a return on equity of 15.65%. The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $618.60 million. During the same quarter last year, the company posted $0.61 EPS. Louisiana-Pacific’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, research analysts expect that Louisiana-Pacific Co. will post 4.89 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.26 dividend. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.04 annualized dividend and a dividend yield of 1.40%. Louisiana-Pacific’s dividend payout ratio is presently 42.45%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DA Davidson reiterated a “buy” rating and issued a $76.00 price target on shares of Louisiana-Pacific in a research note on Tuesday, February 13th. TD Cowen reissued a “hold” rating and set a $75.00 price target on shares of Louisiana-Pacific in a research report on Thursday, January 11th. Truist Financial boosted their price target on Louisiana-Pacific from $75.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Loop Capital began coverage on Louisiana-Pacific in a report on Friday. They issued a “hold” rating and a $82.00 price objective for the company. Finally, TheStreet downgraded shares of Louisiana-Pacific from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.75.

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.