Leith Wheeler Investment Counsel Ltd. boosted its position in Louisiana-Pacific Corporation (NYSE:LPX – Free Report) by 23.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 99,064 shares of the building manufacturing company’s stock after acquiring an additional 18,577 shares during the period. Leith Wheeler Investment Counsel Ltd.’s holdings in Louisiana-Pacific were worth $7,207,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LPX. Millennium Management LLC lifted its stake in shares of Louisiana-Pacific by 128.6% during the 1st quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock worth $16,259,000 after purchasing an additional 99,455 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Louisiana-Pacific during the first quarter worth $273,000. Goldman Sachs Group Inc. grew its position in shares of Louisiana-Pacific by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock valued at $25,274,000 after purchasing an additional 18,413 shares during the period. Empowered Funds LLC grew its position in shares of Louisiana-Pacific by 207.1% in the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock valued at $2,596,000 after purchasing an additional 19,029 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Louisiana-Pacific by 15.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company’s stock valued at $20,747,000 after purchasing an additional 29,846 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
LPX has been the topic of several recent analyst reports. BMO Capital Markets upgraded Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 target price on the stock in a research report on Thursday, May 7th. DA Davidson restated a “buy” rating and issued a $114.00 price target on shares of Louisiana-Pacific in a report on Tuesday, May 5th. Oppenheimer dropped their price objective on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Finally, TD raised their target price 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 analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.80.
Louisiana-Pacific Stock Performance
Shares of NYSE:LPX opened at $71.37 on Tuesday. The company has a market cap of $4.99 billion, a P/E ratio of 60.48, a PEG ratio of 2.33 and a beta of 1.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.48 and a current ratio of 3.26. Louisiana-Pacific Corporation has a one year low of $66.12 and a one year high of $102.86. The business’s 50-day simple moving average is $74.47 and its 200 day simple moving average is $78.86.
Louisiana-Pacific (NYSE:LPX – Get Free Report) last released its quarterly 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. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The firm had revenue of $574.00 million during the quarter, compared to analysts’ expectations of $569.99 million. During the same quarter in the prior year, the business earned $1.27 EPS. Louisiana-Pacific’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, sell-side analysts forecast that Louisiana-Pacific Corporation will post 1.93 earnings per share for the current fiscal year.
Louisiana-Pacific Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders 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 dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 14th. Louisiana-Pacific’s payout ratio is presently 101.69%.
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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