Robotti Robert acquired a new stake in Louisiana-Pacific Corporation (NYSE:LPX – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 79,351 shares of the building manufacturing company’s stock, valued at approximately $6,242,000. Louisiana-Pacific makes up about 1.0% of Robotti Robert’s portfolio, making the stock its 26th biggest holding. Robotti Robert owned 0.11% of Louisiana-Pacific as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new position in Louisiana-Pacific during the 2nd quarter worth about $113,000. BlackRock Inc. bought a new stake in shares of Louisiana-Pacific in the second quarter valued at about $506,638,000. Deutsche Bank AG acquired a new position in shares of Louisiana-Pacific during the second quarter worth about $1,871,000. Perigon Wealth Management LLC acquired a new position in shares of Louisiana-Pacific during the second quarter worth about $452,000. Finally, Simplicity Wealth LLC bought a new position in shares of Louisiana-Pacific during the second quarter worth about $944,000. 94.73% of the stock is owned by institutional investors and hedge funds.
Louisiana-Pacific Price Performance
Shares of NYSE LPX opened at $71.25 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.22 and a quick ratio of 1.67. The business has a 50-day moving average of $75.33 and a 200-day moving average of $76.74. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 90.20, a PEG ratio of 10.46 and a beta of 1.62. Louisiana-Pacific Corporation has a fifty-two week low of $66.12 and a fifty-two week high of $101.28.
Louisiana-Pacific Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. Louisiana-Pacific’s dividend payout ratio is currently 151.90%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on LPX. The Goldman Sachs Group lifted their target price on Louisiana-Pacific from $66.00 to $74.00 and gave the company a “sell” rating in a research report on Thursday, August 6th. Jefferies Financial Group initiated coverage on Louisiana-Pacific in a research report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price target for the company. TD Securities raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Oppenheimer lowered their price objective on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Finally, TD boosted their price objective on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.00.
Check Out Our Latest Stock Analysis on LPX
About Louisiana-Pacific
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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