First Mercantile Trust Co Lowers stake in Louisiana-Pacific Corporation (LPX)

Louisiana-Pacific Corporation (LPX) : First Mercantile Trust Co reduced its stake in Louisiana-Pacific Corporation by 10.11% during the most recent quarter end. The investment management company now holds a total of 24,513 shares of Louisiana-Pacific Corporation which is valued at $460,109 after selling 2,756 shares in Louisiana-Pacific Corporation , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Louisiana-Pacific Corporation makes up approximately 0.06% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in LPX by selling 38,824 shares or 60.4% in the most recent quarter. The Hedge Fund company now holds 25,459 shares of LPX which is valued at $474,810.

Louisiana-Pacific Corporation closed down -0.4 points or -2.09% at $18.77 with 15,62,792 shares getting traded on Friday. Post opening the session at $19.15, the shares hit an intraday low of $18.744 and an intraday high of $19.23 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Louisiana-Pacific Corporation reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.26. The company had revenue of $582.40 million for the quarter, compared to analysts expectations of $582.79 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

Many Wall Street Analysts have commented on Louisiana-Pacific Corporation. Louisiana-Pacific Corporation was Upgraded by Dundee to ” Buy” on Jul 21, 2016.

Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in new 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. The OSB segment manufactures and distributes OSB structural panel products. The Siding segment offers two categories of products which include SmartSide siding products and related accessories; and CanExel siding and accessories and other related products. The EWP segment manufactures and distributes laminated veneer lumber (LVL) I-Joists laminated strand lumber (LSL) and other related products. The South American segment manufactures and distributes OSB and siding products in South America and certain export markets. Its other products category includes its remaining timber and timberlands and other products services and closed operations.

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