Channing Capital Management LLC Takes $73.66 Million Position in Louisiana-Pacific Co. (NYSE:LPX)

Channing Capital Management LLC bought a new stake in shares of Louisiana-Pacific Co. (NYSE:LPX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,039,981 shares of the building manufacturing company’s stock, valued at approximately $73,662,000. Louisiana-Pacific makes up about 2.2% of Channing Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Channing Capital Management LLC owned approximately 1.44% of Louisiana-Pacific as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capula Management Ltd purchased a new position in shares of Louisiana-Pacific during the 3rd quarter valued at approximately $485,000. Arlington Trust Co LLC purchased a new stake in Louisiana-Pacific in the 4th quarter worth $1,062,000. First Eagle Investment Management LLC increased its holdings in Louisiana-Pacific by 35.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 195,718 shares of the building manufacturing company’s stock worth $10,817,000 after acquiring an additional 51,461 shares in the last quarter. Caxton Associates LP increased its holdings in Louisiana-Pacific by 222.1% in the 3rd quarter. Caxton Associates LP now owns 14,656 shares of the building manufacturing company’s stock worth $810,000 after acquiring an additional 10,106 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new stake in Louisiana-Pacific in the 3rd quarter worth $288,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $77.58, for a total transaction of $193,950.00. Following the transaction, the director now owns 25,995 shares of the company’s stock, valued at approximately $2,016,692.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock traded up $0.45 during trading hours on Friday, reaching $74.30. 703,563 shares of the company’s stock were exchanged, compared to its average volume of 859,695. Louisiana-Pacific Co. has a 1 year low of $49.47 and a 1 year high of $84.54. The company has a market capitalization of $5.37 billion, a P/E ratio of 30.33 and a beta of 1.87. The business has a fifty day moving average of $77.05 and a two-hundred day moving average of $68.86. The company has a quick ratio of 1.54, a current ratio of 3.00 and a debt-to-equity ratio of 0.22.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, February 14th. The building manufacturing company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.17. The firm had revenue of $658.00 million for the quarter, compared to analysts’ expectations of $618.60 million. Louisiana-Pacific had a net margin of 6.90% and a return on equity of 15.65%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, research analysts predict that Louisiana-Pacific Co. will post 4.89 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.26 per share. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, February 22nd. This represents a $1.04 annualized dividend and a dividend yield of 1.40%. Louisiana-Pacific’s payout ratio is presently 42.45%.

Analyst Upgrades and Downgrades

LPX has been the subject of several recent analyst reports. TD Securities boosted their price target on shares of Louisiana-Pacific from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Thursday, February 15th. TheStreet lowered shares of Louisiana-Pacific from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. Loop Capital initiated coverage on shares of Louisiana-Pacific in a report on Friday. They issued a “hold” rating and a $82.00 price target for the company. DA Davidson reissued a “buy” rating and issued a $76.00 price target on shares of Louisiana-Pacific in a report on Tuesday, February 13th. Finally, Royal Bank of Canada upped their target price on shares of Louisiana-Pacific from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.75.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.