Picton Mahoney Asset Management Invests $453,000 in Louisiana-Pacific Co. (LPX) Stock
Picton Mahoney Asset Management acquired a new position in Louisiana-Pacific Co. (NYSE:LPX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,700 shares of the construction company’s stock, valued at approximately $453,000.
A number of other institutional investors have also recently bought and sold shares of LPX. Iridian Asset Management LLC CT increased its position in shares of Louisiana-Pacific by 71.6% during the second quarter. Iridian Asset Management LLC CT now owns 4,846,075 shares of the construction company’s stock worth $116,839,000 after acquiring an additional 2,021,510 shares during the period. AJO LP purchased a new position in Louisiana-Pacific during the second quarter valued at approximately $43,821,000. Prudential Financial Inc. increased its holdings in Louisiana-Pacific by 411.7% during the third quarter. Prudential Financial Inc. now owns 2,068,380 shares of the construction company’s stock valued at $56,012,000 after buying an additional 1,664,170 shares during the period. JPMorgan Chase & Co. increased its holdings in Louisiana-Pacific by 264.0% during the third quarter. JPMorgan Chase & Co. now owns 2,164,191 shares of the construction company’s stock valued at $61,830,000 after buying an additional 1,569,696 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Louisiana-Pacific by 9.9% during the second quarter. Vanguard Group Inc. now owns 14,500,326 shares of the construction company’s stock valued at $349,603,000 after buying an additional 1,302,444 shares during the period. 93.12% of the stock is currently owned by institutional investors.
In other Louisiana-Pacific news, insider Rebecca Anne Barckley sold 5,128 shares of Louisiana-Pacific stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $27.00, for a total value of $138,456.00. Following the completion of the transaction, the insider now owns 7,305 shares of the company’s stock, valued at $197,235. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael Sims sold 5,871 shares of Louisiana-Pacific stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $27.06, for a total transaction of $158,869.26. Following the completion of the transaction, the senior vice president now directly owns 41,523 shares of the company’s stock, valued at approximately $1,123,612.38. The disclosure for this sale can be found here. Insiders own 1.48% of the company’s stock.
Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Monday, November 6th. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.05). The business had revenue of $718.30 million for the quarter, compared to analyst estimates of $731.47 million. Louisiana-Pacific had a net margin of 11.72% and a return on equity of 20.27%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. equities analysts predict that Louisiana-Pacific Co. will post 2.07 earnings per share for the current year.
LPX has been the topic of several research reports. Zacks Investment Research raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday, August 3rd. Royal Bank Of Canada restated a “buy” rating and issued a $37.00 target price on shares of Louisiana-Pacific in a research note on Monday, September 25th. Vertical Research upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Stephens assumed coverage on shares of Louisiana-Pacific in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $30.00 target price for the company. Finally, Longbow Research restated a “neutral” rating on shares of Louisiana-Pacific in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Louisiana-Pacific currently has an average rating of “Hold” and an average target price of $29.67.
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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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