Stevens Capital Management LP Increases Position in Louisiana-Pacific Co. (LPX)

Stevens Capital Management LP raised its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 77.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,467 shares of the construction company’s stock after acquiring an additional 51,083 shares during the period. Stevens Capital Management LP owned approximately 0.08% of Louisiana-Pacific worth $3,112,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of LPX. Willingdon Wealth Management bought a new position in Louisiana-Pacific during the third quarter valued at $126,000. Synovus Financial Corp increased its position in Louisiana-Pacific by 174.8% during the second quarter. Synovus Financial Corp now owns 4,672 shares of the construction company’s stock valued at $127,000 after acquiring an additional 2,972 shares during the last quarter. First Hawaiian Bank bought a new position in Louisiana-Pacific during the third quarter valued at $165,000. TRUE Private Wealth Advisors bought a new position in Louisiana-Pacific during the third quarter valued at $168,000. Finally, NumerixS Investment Technologies Inc increased its position in Louisiana-Pacific by 36.0% during the second quarter. NumerixS Investment Technologies Inc now owns 9,250 shares of the construction company’s stock valued at $249,000 after acquiring an additional 2,450 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

In other news, EVP Neil Sherman sold 7,430 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $31.74, for a total transaction of $235,828.20. Following the completion of the sale, the executive vice president now directly owns 51,708 shares of the company’s stock, valued at $1,641,211.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Bradley Southern sold 12,042 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $31.00, for a total transaction of $373,302.00. Following the sale, the chief executive officer now directly owns 196,518 shares of the company’s stock, valued at $6,092,058. The disclosure for this sale can be found here. Insiders have sold 31,287 shares of company stock valued at $975,986 over the last three months. Insiders own 1.48% of the company’s stock.

LPX has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. ValuEngine cut shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Longbow Research reiterated a “hold” rating on shares of Louisiana-Pacific in a research report on Tuesday, October 9th. BMO Capital Markets upgraded shares of Louisiana-Pacific from an “underperform” rating to a “market perform” rating and cut their price objective for the company from $27.00 to $24.00 in a research report on Monday, October 22nd. They noted that the move was a valuation call. Finally, Seaport Global Securities initiated coverage on shares of Louisiana-Pacific in a research report on Tuesday, October 23rd. They set a “buy” rating and a $31.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Louisiana-Pacific currently has an average rating of “Hold” and an average price target of $32.13.

Shares of LPX opened at $22.86 on Friday. The firm has a market cap of $3.23 billion, a PE ratio of 9.81, a P/E/G ratio of 1.56 and a beta of 1.61. Louisiana-Pacific Co. has a 12-month low of $20.89 and a 12-month high of $32.16. The company has a quick ratio of 4.91, a current ratio of 6.13 and a debt-to-equity ratio of 0.19.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Tuesday, November 6th. The construction company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.17. The firm had revenue of $736.80 million during the quarter, compared to analyst estimates of $724.92 million. Louisiana-Pacific had a net margin of 17.23% and a return on equity of 27.84%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share. Analysts predict that Louisiana-Pacific Co. will post 2.92 EPS for the current year.

Louisiana-Pacific announced that its Board of Directors has initiated a share buyback plan on Tuesday, August 7th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 3.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 16th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, November 15th. Louisiana-Pacific’s dividend payout ratio is currently 22.32%.

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Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.

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

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