Posted by admin on Aug 7th, 2022
National Bank of Canada FI grew its position in shares of Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 422.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,626 shares of the building manufacturing company’s stock after acquiring an additional 18,296 shares during the quarter. National Bank of Canada FI’s holdings in Louisiana-Pacific were worth $1,397,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rather & Kittrell Inc. acquired a new stake in Louisiana-Pacific during the fourth quarter worth about $43,000. TCI Wealth Advisors Inc. acquired a new stake in shares of Louisiana-Pacific in the first quarter valued at about $39,000. Ahrens Investment Partners LLC acquired a new stake in shares of Louisiana-Pacific in the first quarter valued at about $40,000. Ellevest Inc. grew its stake in shares of Louisiana-Pacific by 51.6% in the first quarter. Ellevest Inc. now owns 1,234 shares of the building manufacturing company’s stock valued at $77,000 after buying an additional 420 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in shares of Louisiana-Pacific in the fourth quarter valued at about $100,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of LPX opened at $61.38 on Friday. The company has a market capitalization of $5.04 billion, a P/E ratio of 3.70 and a beta of 1.65. Louisiana-Pacific Co. has a one year low of $49.98 and a one year high of $79.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.09 and a current ratio of 2.92. The stock has a 50-day moving average price of $60.18 and a 200 day moving average price of $64.52.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Wednesday, August 17th. Louisiana-Pacific’s dividend payout ratio is presently 5.31%.
A number of equities research analysts have recently issued reports on the company. Truist Financial assumed coverage on Louisiana-Pacific in a research note on Wednesday, June 29th. They issued a “hold” rating and a $57.00 target price for the company. Bank of America lowered Louisiana-Pacific from a “buy” rating to a “neutral” rating and set a $67.00 target price for the company. in a research note on Thursday, June 23rd. TD Securities lowered their target price on Louisiana-Pacific from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, June 23rd. Finally, The Goldman Sachs Group reduced their price target on Louisiana-Pacific from $90.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, June 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Louisiana-Pacific has a consensus rating of “Hold” and a consensus price target of $69.20.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.
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