Tower Research Capital LLC TRC increased its stake in shares of Louisiana-Pacific Corp. (NYSE:LPX) by 3,064.3% during the second quarter, Holdings Channel reports. The fund owned 13,290 shares of the company’s stock after buying an additional 12,870 shares during the period. Tower Research Capital LLC TRC’s holdings in Louisiana-Pacific Corp. were worth $231,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Louisiana-Pacific Corp. during the fourth quarter valued at $14,287,000. Teachers Advisors Inc. raised its stake in Louisiana-Pacific Corp. by 5.7% in the first quarter. Teachers Advisors Inc. now owns 9,097,949 shares of the company’s stock valued at $155,757,000 after buying an additional 491,226 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Louisiana-Pacific Corp. by 7.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,721,800 shares of the company’s stock valued at $97,957,000 after buying an additional 394,936 shares during the last quarter. Vanguard Group Inc. raised its stake in Louisiana-Pacific Corp. by 3.7% in the second quarter. Vanguard Group Inc. now owns 10,669,714 shares of the company’s stock valued at $185,119,000 after buying an additional 385,623 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Louisiana-Pacific Corp. during the second quarter valued at $3,965,000.
Louisiana-Pacific Corp. (NYSE:LPX) opened at 18.75 on Tuesday. Louisiana-Pacific Corp. has a 52-week low of $13.31 and a 52-week high of $20.97. The stock’s 50 day moving average price is $19.34 and its 200-day moving average price is $18.24. The company has a market cap of $2.67 billion, a P/E ratio of 340.91 and a beta of 1.54.
Louisiana-Pacific Corp. (NYSE:LPX) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The company had revenue of $582 million for the quarter, compared to analyst estimates of $578.30 million. Louisiana-Pacific Corp. had a return on equity of 3.29% and a net margin of 0.39%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. On average, equities analysts predict that Louisiana-Pacific Corp. will post $0.84 earnings per share for the current fiscal year.
LPX has been the topic of a number of recent analyst reports. Dundee Securities upgraded Louisiana-Pacific Corp. from a “neutral” rating to a “buy” rating in a research note on Thursday, July 21st. BMO Capital Markets lowered Louisiana-Pacific Corp. from an “outperform” rating to a “market perform” rating and set a $20.00 target price on the stock. in a research note on Monday, August 8th. They noted that the move was a valuation call. TheStreet upgraded Louisiana-Pacific Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 8th. Finally, Zacks Investment Research upgraded Louisiana-Pacific Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, June 1st. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Louisiana-Pacific Corp. has an average rating of “Buy” and a consensus target price of $19.25.
In other Louisiana-Pacific Corp. news, SVP Neil Sherman sold 13,397 shares of Louisiana-Pacific Corp. stock in a transaction on Monday, August 8th. The stock was sold at an average price of $20.00, for a total value of $267,940.00. Following the sale, the senior vice president now owns 45,025 shares in the company, valued at $900,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.76% of the company’s stock.
About Louisiana-Pacific Corp.
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: North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
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