Convergence Investment Partners LLC Buys 34,178 Shares of Louisiana-Pacific Co. (LPX)

Convergence Investment Partners LLC increased its stake in Louisiana-Pacific Co. (NYSE:LPX) by 28.3% during the second quarter, Holdings Channel reports. The fund owned 154,809 shares of the construction company’s stock after buying an additional 34,178 shares during the period. Convergence Investment Partners LLC’s holdings in Louisiana-Pacific were worth $3,732,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. US Bancorp DE increased its stake in Louisiana-Pacific by 6.9% in the second quarter. US Bancorp DE now owns 6,169 shares of the construction company’s stock valued at $149,000 after buying an additional 400 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Louisiana-Pacific by 0.8% in the first quarter. Acrospire Investment Management LLC now owns 7,741 shares of the construction company’s stock valued at $192,000 after buying an additional 60 shares during the last quarter. Creative Planning increased its stake in Louisiana-Pacific by 1.9% in the second quarter. Creative Planning now owns 7,773 shares of the construction company’s stock valued at $187,000 after buying an additional 147 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Louisiana-Pacific during the second quarter valued at $210,000. Finally, Bowling Portfolio Management LLC bought a new stake in Louisiana-Pacific during the second quarter valued at $211,000. Institutional investors own 94.99% of the company’s stock.

Shares of Louisiana-Pacific Co. (NYSE:LPX) opened at 24.08 on Friday. The stock has a market capitalization of $3.49 billion, a P/E ratio of 13.71 and a beta of 1.34. The firm’s 50-day moving average price is $24.70 and its 200 day moving average price is $23.94. Louisiana-Pacific Co. has a 52 week low of $17.08 and a 52 week high of $26.93.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Tuesday, August 1st. The construction company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $694 million for the quarter, compared to analyst estimates of $700.73 million. Louisiana-Pacific had a return on equity of 29.13% and a net margin of 13.37%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Analysts expect that Louisiana-Pacific Co. will post $1.90 earnings per share for the current year.

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Several analysts recently weighed in on the company. Zacks Investment Research upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Thursday, August 3rd. BidaskClub downgraded Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BMO Capital Markets restated a “hold” rating and issued a $22.00 price target on shares of Louisiana-Pacific in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and issued a $32.00 price target on shares of Louisiana-Pacific in a research note on Tuesday, May 23rd. Finally, TD Securities restated a “hold” rating on shares of Louisiana-Pacific in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $27.00.

Louisiana-Pacific 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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Institutional Ownership by Quarter for Louisiana-Pacific (NYSE:LPX)

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