Louisiana State Employees Retirement System purchased a new position in shares of Louisiana-Pacific Corporation (NYSE:LPX – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,400 shares of the building manufacturing company’s stock, valued at approximately $1,339,000.
A number of other large investors have also recently added to or reduced their stakes in the company. Boston Partners bought a new stake in shares of Louisiana-Pacific in the 3rd quarter valued at about $100,770,000. Capital Research Global Investors grew its holdings in Louisiana-Pacific by 306.2% during the fourth quarter. Capital Research Global Investors now owns 1,273,497 shares of the building manufacturing company’s stock worth $102,848,000 after purchasing an additional 960,000 shares during the period. Eminence Capital LP grew its holdings in Louisiana-Pacific by 29.9% during the fourth quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock worth $326,927,000 after purchasing an additional 932,177 shares during the period. Norges Bank acquired a new position in Louisiana-Pacific during the fourth quarter worth approximately $60,184,000. Finally, 59 North Capital Management LP raised its stake in Louisiana-Pacific by 26.3% in the fourth quarter. 59 North Capital Management LP now owns 3,536,884 shares of the building manufacturing company’s stock valued at $285,639,000 after buying an additional 737,406 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.
Analysts Set New Price Targets
LPX has been the subject of a number of recent analyst reports. TD raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Thursday, May 7th. Weiss Ratings upgraded Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Oppenheimer cut their price target on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Truist Financial reaffirmed a “buy” rating and set a $93.00 price objective (down from $95.00) on shares of Louisiana-Pacific in a research report on Friday, May 8th. Finally, Jefferies Financial Group started coverage on shares of Louisiana-Pacific in a report on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.78.
Louisiana-Pacific Trading Up 0.4%
Shares of NYSE:LPX opened at $78.98 on Friday. Louisiana-Pacific Corporation has a 12-month low of $66.12 and a 12-month high of $102.86. The stock has a market cap of $5.52 billion, a PE ratio of 66.94, a P/E/G ratio of 1.98 and a beta of 1.60. The business has a 50 day moving average of $74.34 and a 200-day moving average of $79.60. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20.
Louisiana-Pacific (NYSE:LPX – Get Free Report) last announced its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.24. The company had revenue of $574.00 million for the quarter, compared to analyst estimates of $569.99 million. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 earnings per share. As a group, equities research analysts forecast that Louisiana-Pacific Corporation will post 2 earnings per share for the current year.
Louisiana-Pacific Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.5%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 101.69%.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.
Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.
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