KLCM Advisors Inc. raised its stake in Louisiana-Pacific Corporation (NYSE:LPX – Free Report) by 79.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,550 shares of the building manufacturing company’s stock after purchasing an additional 66,681 shares during the quarter. KLCM Advisors Inc. owned about 0.22% of Louisiana-Pacific worth $10,953,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. Tudor Investment Corp ET AL purchased a new position in shares of Louisiana-Pacific in the third quarter valued at $14,285,000. Eminence Capital LP lifted its holdings in Louisiana-Pacific by 7.9% in the 3rd quarter. Eminence Capital LP now owns 3,115,959 shares of the building manufacturing company’s stock worth $276,822,000 after buying an additional 228,521 shares in the last quarter. Fernbridge Capital Management LP boosted its position in Louisiana-Pacific by 284.5% in the 3rd quarter. Fernbridge Capital Management LP now owns 820,755 shares of the building manufacturing company’s stock valued at $72,916,000 after buying an additional 607,319 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in Louisiana-Pacific in the 4th quarter valued at about $14,472,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Louisiana-Pacific by 2,547.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 385,416 shares of the building manufacturing company’s stock valued at $31,126,000 after acquiring an additional 370,856 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.
Louisiana-Pacific Stock Up 0.9%
NYSE LPX traded up $0.63 on Friday, hitting $73.35. 1,215,666 shares of the stock traded hands, compared to its average volume of 1,048,215. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average of $74.37 and a 200 day moving average of $79.24. Louisiana-Pacific Corporation has a twelve month low of $66.12 and a twelve month high of $102.86. The company has a market capitalization of $5.12 billion, a P/E ratio of 62.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.60.
Louisiana-Pacific Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid 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 1.6%. Louisiana-Pacific’s payout ratio is presently 101.69%.
Wall Street Analyst Weigh In
Several research analysts recently commented on LPX shares. TD Securities upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Oppenheimer dropped their price objective on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. TD raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Thursday, May 7th. Truist Financial reiterated a “buy” rating and set a $93.00 target price (down from $95.00) on shares of Louisiana-Pacific in a research note on Friday, May 8th. Finally, BMO Capital Markets raised shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price target for the company in a research report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Louisiana-Pacific presently has an average rating of “Moderate Buy” and an average price target of $96.78.
Read Our Latest Report on Louisiana-Pacific
Louisiana-Pacific 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 LPĀ® SmartSideĀ® 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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