In a recent transaction on May 10, Louisiana-Pacific Corp (NYSE:LPX) director Ozey K. Horton Jr. sold 1,000 shares of company stock, according to a Form 4 document filed with the Securities and Exchange Commission. The shares were sold at a weighted average price of $86.27 each, totaling $86,270.
The sale was executed in multiple transactions at prices ranging from $85.25 to $86.28. Following this sale, Horton still owns 28,157 shares of Louisiana-Pacific stock, directly. The transactions indicate a divestment by Horton but do not necessarily signal a strategic shift for the company or its directors.
Louisiana-Pacific Corp, headquartered in Nashville, Tennessee, is a leading manufacturer of high-quality building products. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol NYSE:LPX.
Investors and shareholders can request detailed information about the exact number of shares sold at each price point within the reported range from Louisiana-Pacific Corporation or the SEC.
The reported transaction provides a snapshot of insider activity, offering a glimpse into the moves made by company executives and directors with regards to their holdings in the firm.
InvestingPro Insights
Amid the news of director Ozey K. Horton Jr.'s recent stock sale, Louisiana-Pacific Corp (NYSE:LPX) continues to demonstrate financial resilience and investor confidence. With a market capitalization standing at approximately $6.25 billion, the company's valuation reflects its robust position in the building products industry. The InvestingPro data reveals a Price/Earnings (P/E) ratio of 23.83, which adjusts to a more favorable 20.52 when considering the last twelve months as of Q1 2024, indicating market expectations of future earnings growth.
Moreover, the company's dividend yield is currently at 1.19%, with a notable dividend growth of 8.33% in the last twelve months as of Q1 2024. This is in line with one of the InvestingPro Tips highlighting that Louisiana-Pacific has raised its dividend for 6 consecutive years, showcasing a commitment to returning value to shareholders. Additionally, another InvestingPro Tip points out that the company's net income is expected to grow this year, further bolstering the optimistic outlook for Louisiana-Pacific Corp.
Investors may also take interest in the company's recent performance metrics, with a significant 1-week price total return of 18.4% and a 1-month price total return of 13.65%. These figures not only underscore the company's recent market success but also align with the InvestingPro Tip mentioning a strong return over the last month. For those looking to delve deeper into Louisiana-Pacific's financial health and future prospects, there are 15 additional InvestingPro Tips available, which can be accessed through the InvestingPro platform at https://www.investing.com/pro/LPX. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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