Simplicity Wealth LLC increased its stake in Louisiana-Pacific Corporation (NYSE:LPX – Free Report) by 58.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,977 shares of the building manufacturing company’s stock after purchasing an additional 6,979 shares during the quarter. Simplicity Wealth LLC’s holdings in Louisiana-Pacific were worth $1,225,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in LPX. Evergreen Capital Management LLC raised its stake in shares of Louisiana-Pacific by 16.0% during the 3rd quarter. Evergreen Capital Management LLC now owns 3,323 shares of the building manufacturing company’s stock valued at $214,000 after purchasing an additional 459 shares during the period. Cooke & Bieler LP purchased a new stake in Louisiana-Pacific during the 3rd quarter worth about $12,536,000. Diversified Management Inc. bought a new position in Louisiana-Pacific in the 3rd quarter worth about $1,811,000. Farther Finance Advisors LLC boosted its stake in Louisiana-Pacific by 7.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,928 shares of the building manufacturing company’s stock worth $254,000 after purchasing an additional 257 shares during the period. Finally, Steph & Co. bought a new position in Louisiana-Pacific in the 3rd quarter worth about $68,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.
Louisiana-Pacific Trading Up 0.2%
Shares of LPX stock opened at $72.19 on Wednesday. Louisiana-Pacific Corporation has a 52-week low of $62.18 and a 52-week high of $100.34. The business’s fifty day moving average is $68.56 and its 200 day moving average is $75.67.
Louisiana-Pacific (NYSE:LPX – Get Free Report) last posted its earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.16). The company had revenue of $664.00 million during the quarter, compared to analyst estimates of $667.31 million. During the same period last year, the firm posted $0.99 EPS. The firm’s quarterly revenue was down 12.1% compared to the same quarter last year. As a group, equities research analysts predict that Louisiana-Pacific Corporation will post 1.13 earnings per share for the current year.
Louisiana-Pacific Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group decreased their price target on Louisiana-Pacific from $74.00 to $64.00 and set a “sell” rating on the stock in a research report on Monday, October 12th. Weiss Ratings upgraded shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd. Bank of America cut their price objective on shares of Louisiana-Pacific from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, October 14th. DA Davidson reaffirmed a “buy” rating and set a $99.00 price objective on shares of Louisiana-Pacific in a research note on Wednesday, September 2nd. Finally, Barclays decreased their target price on shares of Louisiana-Pacific from $92.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.25.
Louisiana-Pacific Profile
Louisiana-Pacific Corporation (NYSE: LPX) is a manufacturer of building products used in residential, repair and remodeling, and outdoor construction. The company produces engineered wood products designed for use in structural framing, exterior siding, trim, and other building applications.
Its product portfolio includes LP SmartSide siding and trim, oriented strand board and other structural panel products, and solutions for outdoor buildings and construction projects. Louisiana-Pacific markets its products through building-material distributors, retailers, and specialty dealers.
Founded in 1972, Louisiana-Pacific is headquartered in Nashville, Tennessee.
Featured Articles
- Five stocks we like better than Louisiana-Pacific
- Coca-Cola Stock Is Everything AI Isn’t—And That’s Its Biggest Strength
- Apple’s Foldable iPhone Sold Out in Minutes, But Wall Street Has Questions
- Netflix Is Making Big Changes, But Can It Fix What’s Really Hurting Growth?
- Charging Ahead: Solid Power’s Pilot Line Leaves the Lab
Receive News & Ratings for Louisiana-Pacific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Louisiana-Pacific and related companies with MarketBeat.com's FREE daily email newsletter.
