Littlejohn & Co. LLC purchased a new position in Louisiana-Pacific Corporation (NYSE:LPX – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 160,600 shares of the building manufacturing company’s stock, valued at approximately $11,684,000. Louisiana-Pacific makes up approximately 11.1% of Littlejohn & Co. LLC’s portfolio, making the stock its 6th biggest position. Littlejohn & Co. LLC owned 0.23% of Louisiana-Pacific at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. North Ridge Wealth Advisors Inc. acquired a new stake in Louisiana-Pacific during the 2nd quarter worth about $26,000. Los Angeles Capital Management LLC acquired a new stake in Louisiana-Pacific in the 4th quarter valued at $29,000. Parallel Advisors LLC increased its stake in shares of Louisiana-Pacific by 204.0% during the first quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock worth $28,000 after purchasing an additional 255 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of Louisiana-Pacific by 177.6% during the first quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company’s stock valued at $32,000 after acquiring an additional 277 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in Louisiana-Pacific by 138.1% in the 1st quarter. Whittier Trust Co. now owns 500 shares of the building manufacturing company’s stock valued at $36,000 after purchasing an additional 290 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.
Louisiana-Pacific Stock Down 0.6%
Shares of NYSE LPX opened at $72.19 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48. The firm’s 50-day moving average is $74.45 and its two-hundred day moving average is $78.66. The company has a market capitalization of $5.04 billion, a PE ratio of 61.17, a price-to-earnings-growth ratio of 2.29 and a beta of 1.60. Louisiana-Pacific Corporation has a 12-month low of $66.12 and a 12-month high of $102.86.
Louisiana-Pacific Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio is 101.69%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on LPX shares. TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Barclays raised their price target on Louisiana-Pacific from $89.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Bank of America upped their target price on shares of Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Jefferies Financial Group assumed coverage on Louisiana-Pacific in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 price objective for the company. Finally, TD boosted their target price on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Eleven investment 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.80.
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 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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