Shares of Louisiana-Pacific Co. (NYSE:LPX – Get Rating) have earned an average rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $61.60.
Several research firms have recently commented on LPX. DA Davidson upped their price objective on Louisiana-Pacific from $60.00 to $65.00 in a research note on Thursday, May 4th. TD Securities upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating and increased their target price for the company from $63.00 to $75.00 in a research report on Thursday, May 4th. Truist Financial lowered their price objective on Louisiana-Pacific from $49.00 to $47.00 and set a “hold” rating for the company in a research note on Monday, February 27th. Finally, StockNews.com lowered shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th.
Institutional Investors Weigh In On Louisiana-Pacific
Several hedge funds have recently modified their holdings of LPX. Raymond James & Associates raised its holdings in Louisiana-Pacific by 4.1% in the 1st quarter. Raymond James & Associates now owns 47,998 shares of the building manufacturing company’s stock valued at $2,982,000 after acquiring an additional 1,898 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Louisiana-Pacific by 116.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,113 shares of the building manufacturing company’s stock valued at $1,746,000 after acquiring an additional 15,115 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Louisiana-Pacific by 50.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,505 shares of the building manufacturing company’s stock valued at $590,000 after purchasing an additional 3,179 shares during the period. MetLife Investment Management LLC grew its stake in shares of Louisiana-Pacific by 34.1% in the first quarter. MetLife Investment Management LLC now owns 57,184 shares of the building manufacturing company’s stock worth $3,552,000 after acquiring an additional 14,544 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Louisiana-Pacific by 33.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,787 shares of the building manufacturing company’s stock valued at $2,409,000 after acquiring an additional 9,615 shares in the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.
Louisiana-Pacific Trading Up 2.0 %
Louisiana-Pacific (NYSE:LPX – Get Rating) last posted its earnings results on Wednesday, May 3rd. The building manufacturing company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.27. The business had revenue of $584.00 million for the quarter, compared to analysts’ expectations of $618.23 million. Louisiana-Pacific had a net margin of 19.05% and a return on equity of 37.43%. The business’s revenue for the quarter was down 56.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.08 EPS. Sell-side analysts anticipate that Louisiana-Pacific will post 2.53 EPS for the current year.
Louisiana-Pacific Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Friday, May 12th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.50%. The ex-dividend date was Thursday, May 11th. Louisiana-Pacific’s dividend payout ratio (DPR) is 12.06%.
About Louisiana-Pacific
Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through: Siding, Oriented Strand Board, and South America. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.
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