First Trust Advisors LP Decreases Position in Louisiana-Pacific Corporation $LPX

First Trust Advisors LP lowered its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 19.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,583 shares of the building manufacturing company’s stock after selling 24,693 shares during the quarter. First Trust Advisors LP’s holdings in Louisiana-Pacific were worth $7,390,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. North Ridge Wealth Advisors Inc. acquired a new position in Louisiana-Pacific during the 2nd quarter worth $26,000. Parallel Advisors LLC increased its holdings in Louisiana-Pacific by 204.0% during the 1st quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock worth $28,000 after purchasing an additional 255 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Louisiana-Pacific in the 4th quarter valued at about $29,000. Root Financial Partners LLC raised its position in Louisiana-Pacific by 177.6% in the 1st quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company’s stock valued at $32,000 after purchasing an additional 277 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Louisiana-Pacific by 138.1% in the 1st quarter. Whittier Trust Co. now owns 500 shares of the building manufacturing company’s stock valued at $36,000 after buying an additional 290 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on LPX. Weiss Ratings raised Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Oppenheimer decreased their price target on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Jefferies Financial Group assumed coverage on shares of Louisiana-Pacific in a report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price target for the company. TD increased their price objective on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Finally, Zacks Research lowered shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $97.80.

Louisiana-Pacific Stock Up 0.9%

Shares of NYSE LPX opened at $72.59 on Friday. The business has a 50-day moving average of $74.96 and a two-hundred day moving average of $78.24. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 61.51, a price-to-earnings-growth ratio of 2.36 and a beta of 1.60. Louisiana-Pacific Corporation has a 1 year low of $66.12 and a 1 year high of $102.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $569.99 million. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. On average, analysts forecast that Louisiana-Pacific Corporation will post 1.86 earnings per share for the current fiscal year.

Louisiana-Pacific Company 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.