NASHVILLE—Lizanne C. Gottung, a director at Louisiana-Pacific Corp (NYSE:LPX), a building materials manufacturer with a market capitalization of $7.69 billion and a perfect Piotroski Score of 9 according to InvestingPro, recently sold shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The sales, conducted on December 16, 2024, involved a total of 2,500 shares sold at prices ranging from $112.7 to $113.71 per share, amounting to a total transaction value of $283,737. The stock, which has delivered an impressive 62% return year-to-date, is currently trading near its Fair Value based on InvestingPro analysis.
The transactions were executed automatically under a Rule 10b5-1 trading plan that Gottung adopted on September 14, 2023. Following these sales, Gottung retains direct ownership of 18,513 shares in the company. This figure includes an adjustment of 7 shares credited as dividend equivalents on outstanding restricted stock units since her last Form 4 filing. For deeper insights into insider transactions and 14+ additional ProTips about LPX's financial health, visit InvestingPro.
In other recent news, Louisiana-Pacific Corporation has been in the spotlight due to a series of developments. The company reported a strong third quarter in 2024, with net sales hitting $722 million, largely driven by a 22% rise in Siding sales to a record EBITDA of $123 million. Despite a decline in Oriented Strand Board (OSB) prices, negatively impacting the company by $88 million, Louisiana-Pacific remains optimistic about its future.
The company's Siding business saw a significant increase, which helped offset a decline in OSB prices. Analysts from BMO Capital Markets and Loop Capital have raised their price targets for the company to $103 and $117 respectively, recognizing Louisiana-Pacific's strong performance, particularly in its Siding business. The revised forecast anticipates a siding sales growth of 17%, up from the previously expected 14-16%, with an approximate 25% segment adjusted EBITDA margin.
In addition to its financial performance, Louisiana-Pacific has also seen changes in its leadership structure. The company announced the appointment of Leslie Davis as the new Vice President, Controller, and Chief Accounting Officer, following the departure of Derek Doyle. This internal reorganization is part of Louisiana-Pacific's ongoing efforts to strengthen its leadership structure and financial reporting capabilities.
In other developments, the company has announced plans to start a new siding capacity expansion project in fiscal year 2025, and a strategic investment in modular housing in South America. These recent developments highlight Louisiana-Pacific's resilience in navigating market dynamics and its strategic focus on expanding its siding business.
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