Raymond James Financial Services Advisors Inc. Reduces Stake in Louisiana-Pacific Co. (NYSE:LPX)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,792 shares of the building manufacturing company’s stock after selling 1,148 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Louisiana-Pacific were worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LPX. Zions Bancorporation N.A. purchased a new position in Louisiana-Pacific during the first quarter worth about $25,000. Atlas Capital Advisors LLC acquired a new position in Louisiana-Pacific in the second quarter valued at approximately $42,000. Total Clarity Wealth Management Inc. purchased a new position in Louisiana-Pacific in the second quarter worth approximately $52,000. CNB Bank acquired a new stake in Louisiana-Pacific during the second quarter worth $66,000. Finally, Covestor Ltd raised its position in Louisiana-Pacific by 35.2% in the first quarter. Covestor Ltd now owns 1,720 shares of the building manufacturing company’s stock valued at $107,000 after purchasing an additional 448 shares during the period. Institutional investors and hedge funds own 99.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. DA Davidson downgraded Louisiana-Pacific from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $69.00 to $63.00 in a research report on Thursday, January 12th. TD Securities cut shares of Louisiana-Pacific from a “buy” rating to a “hold” rating and set a $72.00 price target for the company. in a research report on Monday, December 19th. Finally, StockNews.com initiated coverage on shares of Louisiana-Pacific in a research report on Wednesday, October 12th. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.60.

Louisiana-Pacific Stock Up 1.9 %

Shares of LPX opened at $64.11 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.54 and a current ratio of 2.33. The stock has a market capitalization of $4.60 billion, a PE ratio of 4.11 and a beta of 1.62. The company’s 50-day simple moving average is $62.40 and its 200-day simple moving average is $58.49. Louisiana-Pacific Co. has a 1 year low of $48.20 and a 1 year high of $78.09.

Louisiana-Pacific (NYSE:LPX – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The building manufacturing company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.62 by $0.10. The business had revenue of $852.00 million during the quarter, compared to the consensus estimate of $847.81 million. Louisiana-Pacific had a net margin of 29.88% and a return on equity of 77.64%. Analysts forecast that Louisiana-Pacific Co. will post 12 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Wednesday, November 9th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Tuesday, November 8th. Louisiana-Pacific’s dividend payout ratio is currently 5.65%.

Insider Activity

In related news, Director Lizanne C. Gottung sold 3,587 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $62.52, for a total transaction of $224,259.24. Following the sale, the director now directly owns 27,470 shares in the company, valued at $1,717,424.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.26% of the company’s stock.

Louisiana-Pacific Profile

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Louisiana-Pacific Corp. engages in the design and manufacture of engineered wood building products for builders, remodelers, and homeowners. It operates through the following segments: Siding, Oriented Strand Board (OSB), South America, and Other. The Siding segment offers engineered wood siding, trim, soffit, and fascia under the brands of LP, SmartSide, Trim & Siding LP, SmartSide, and ExpertFinish.