Owl Creek Asset Management Lowers stake in Louisiana-Pacific Corporation (LPX)

Louisiana-Pacific Corporation (LPX) : Owl Creek Asset Management reduced its stake in Louisiana-Pacific Corporation by 25.56% during the most recent quarter end. The investment management company now holds a total of 2,330,993 shares of Louisiana-Pacific Corporation which is valued at $44,265,557 after selling 800,569 shares in Louisiana-Pacific Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Louisiana-Pacific Corporation makes up approximately 2.70% of Owl Creek Asset Management’s portfolio.

Other Hedge Funds, Including , Wolverine Asset Management added LPX to its portfolio by purchasing 85,000 company shares during the most recent quarter which is valued at $1,614,150. Louisiana-Pacific Corporation makes up approx 0.14% of Wolverine Asset Management’s portfolio.Nuveen Asset Management reduced its stake in LPX by selling 282 shares or 0.42% in the most recent quarter. The Hedge Fund company now holds 66,552 shares of LPX which is valued at $1,263,822. Louisiana-Pacific Corporation makes up approx 0.01% of Nuveen Asset Management’s portfolio.Capital Innovations reduced its stake in LPX by selling 86,680 shares or 60.08% in the most recent quarter. The Hedge Fund company now holds 57,584 shares of LPX which is valued at $1,093,520. Louisiana-Pacific Corporation makes up approx 3.06% of Capital Innovations’s portfolio. Visium Asset Management Lp sold out all of its stake in LPX during the most recent quarter. The investment firm sold 117,619 shares of LPX which is valued $2,233,585.

Louisiana-Pacific Corporation opened for trading at $19.51 and hit $19.8 on the upside on Thursday, eventually ending the session at $19.8, with a gain of 1.64% or 0.32 points. The heightened volatility saw the trading volume jump to 15,42,465 shares. Company has a market cap of $2,815 M.

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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