Suntrust Banks Inc. Invests $1.36 Million in Louisiana-Pacific Corporation (LPX)
Suntrust Banks Inc. bought a new stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 54,974 shares of the construction company’s stock, valued at approximately $1,364,000.
A number of other hedge funds have also added to or reduced their stakes in LPX. US Bancorp DE raised its stake in Louisiana-Pacific Corporation by 57.2% in the third quarter. US Bancorp DE now owns 5,769 shares of the construction company’s stock valued at $109,000 after buying an additional 2,100 shares in the last quarter. Fortaleza Asset Management Inc. raised its stake in Louisiana-Pacific Corporation by 8.2% in the fourth quarter. Fortaleza Asset Management Inc. now owns 6,890 shares of the construction company’s stock worth $130,000 after buying an additional 520 shares in the last quarter. Elkfork Partners LLC purchased a new stake in Louisiana-Pacific Corporation during the fourth quarter worth about $180,000. Laurion Capital Management LP purchased a new stake in Louisiana-Pacific Corporation during the third quarter worth about $201,000. Finally, First Interstate Bank raised its stake in Louisiana-Pacific Corporation by 141.8% in the fourth quarter. First Interstate Bank now owns 10,664 shares of the construction company’s stock worth $202,000 after buying an additional 6,254 shares in the last quarter. 93.56% of the stock is owned by institutional investors and hedge funds.
Louisiana-Pacific Corporation (NYSE:LPX) traded down 0.25% during mid-day trading on Thursday, reaching $24.09. 1,105,971 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $23.76 and a 200-day moving average price of $22.56. The stock has a market cap of $3.49 billion, a P/E ratio of 18.02 and a beta of 1.40. Louisiana-Pacific Corporation has a 1-year low of $15.74 and a 1-year high of $26.92.
Louisiana-Pacific Corporation (NYSE:LPX) last posted its quarterly earnings data on Friday, May 5th. The construction company reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. Louisiana-Pacific Corporation had a net margin of 8.31% and a return on equity of 14.34%. The company had revenue of $611 million for the quarter, compared to the consensus estimate of $607.21 million. During the same period last year, the company earned $0.07 earnings per share. The firm’s revenue was up 21.0% compared to the same quarter last year. Equities research analysts anticipate that Louisiana-Pacific Corporation will post $1.68 EPS for the current fiscal year.
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A number of equities research analysts have recently issued reports on LPX shares. Royal Bank Of Canada restated a “buy” rating and set a $26.00 price target on shares of Louisiana-Pacific Corporation in a report on Tuesday, March 14th. Zacks Investment Research lowered shares of Louisiana-Pacific Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 10th. DA Davidson lowered shares of Louisiana-Pacific Corporation from a “buy” rating to a “neutral” rating in a report on Monday, May 8th. TD Securities restated a “hold” rating on shares of Louisiana-Pacific Corporation in a report on Tuesday, May 9th. Finally, Buckingham Research lowered shares of Louisiana-Pacific Corporation from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a report on Wednesday, April 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $26.40.
Louisiana-Pacific Corporation Company Profile
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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