First Trust Direct Indexing L.P. purchased a new stake in Louisiana-Pacific Co. (NYSE:LPX – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,884 shares of the building manufacturing company’s stock, valued at approximately $216,000.
A number of other large investors have also recently modified their holdings of LPX. Pacer Advisors Inc. purchased a new stake in Louisiana-Pacific in the second quarter valued at approximately $945,000. Sciencast Management LP bought a new stake in shares of Louisiana-Pacific during the 2nd quarter worth $676,000. Ausbil Investment Management Ltd purchased a new position in Louisiana-Pacific in the second quarter worth $429,000. First Hawaiian Bank increased its stake in Louisiana-Pacific by 66.6% in the second quarter. First Hawaiian Bank now owns 9,556 shares of the building manufacturing company’s stock valued at $717,000 after acquiring an additional 3,820 shares during the last quarter. Finally, Brandywine Global Investment Management LLC raised its position in Louisiana-Pacific by 44.0% during the first quarter. Brandywine Global Investment Management LLC now owns 181,364 shares of the building manufacturing company’s stock valued at $9,832,000 after purchasing an additional 55,426 shares in the last quarter. Institutional investors own 91.94% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on LPX shares. TD Cowen upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Wednesday, September 20th. TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Wednesday, September 20th. They noted that the move was a valuation call. Royal Bank of Canada decreased their target price on shares of Louisiana-Pacific from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Truist Financial cut their price target on shares of Louisiana-Pacific from $82.00 to $79.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. Finally, Bank of America upped their price objective on shares of Louisiana-Pacific from $58.00 to $60.00 in a research note on Monday, July 10th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $76.00.
Louisiana-Pacific Price Performance
LPX stock opened at $55.02 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 0.99. Louisiana-Pacific Co. has a 1 year low of $49.81 and a 1 year high of $79.56. The firm has a 50-day moving average of $63.59 and a 200 day moving average of $62.93. The company has a market cap of $3.97 billion, a P/E ratio of 18.65 and a beta of 1.72.
Louisiana-Pacific (NYSE:LPX – Get Free Report) last released its earnings results on Wednesday, August 2nd. The building manufacturing company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.12). The firm had revenue of $611.00 million during the quarter, compared to analysts’ expectations of $667.04 million. Louisiana-Pacific had a net margin of 7.96% and a return on equity of 16.60%. The company’s revenue for the quarter was down 45.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.19 EPS. On average, sell-side analysts forecast that Louisiana-Pacific Co. will post 3.41 EPS for the current year.
Louisiana-Pacific Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Thursday, August 10th. Louisiana-Pacific’s dividend payout ratio is presently 32.54%.
Louisiana-Pacific Company Profile
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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