Posted by admin on Jul 10th, 2022
Oregon Public Employees Retirement Fund lessened its holdings in Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 8.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,207 shares of the building manufacturing company’s stock after selling 2,737 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Louisiana-Pacific were worth $1,752,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Bessemer Group Inc. bought a new position in shares of Louisiana-Pacific in the 4th quarter worth approximately $27,000. Rather & Kittrell Inc. bought a new position in shares of Louisiana-Pacific in the 4th quarter worth approximately $43,000. Ellevest Inc. lifted its stake in shares of Louisiana-Pacific by 271.7% in the 4th quarter. Ellevest Inc. now owns 814 shares of the building manufacturing company’s stock worth $64,000 after purchasing an additional 595 shares during the period. Exchange Traded Concepts LLC increased its holdings in Louisiana-Pacific by 51.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,147 shares of the building manufacturing company’s stock worth $90,000 after acquiring an additional 390 shares in the last quarter. Finally, Covestor Ltd purchased a new stake in Louisiana-Pacific in the 4th quarter worth approximately $100,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
Several research firms recently issued reports on LPX. TD Securities reduced their target price on shares of Louisiana-Pacific from $85.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. Truist Financial assumed coverage on shares of Louisiana-Pacific in a report on Wednesday, June 29th. They set a “hold” rating and a $57.00 price objective for the company. StockNews.com assumed coverage on shares of Louisiana-Pacific in a report on Thursday, March 31st. They set a “hold” rating for the company. Bank of America lowered shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating and set a $67.00 price objective for the company. in a report on Thursday, June 23rd. Finally, The Goldman Sachs Group cut their price objective on shares of Louisiana-Pacific from $90.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, June 23rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Louisiana-Pacific presently has a consensus rating of “Hold” and a consensus price target of $69.20.
In related news, Director Lizanne C. Gottung sold 7,635 shares of the firm’s stock in a transaction on Thursday, May 5th. The shares were sold at an average price of $75.02, for a total value of $572,777.70. Following the completion of the transaction, the director now directly owns 31,522 shares of the company’s stock, valued at $2,364,780.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.26% of the company’s stock.
LPX stock opened at $56.67 on Friday. The firm has a fifty day moving average price of $63.80 and a 200 day moving average price of $66.71. Louisiana-Pacific Co. has a fifty-two week low of $49.98 and a fifty-two week 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 firm has a market cap of $4.65 billion, a PE ratio of 3.42 and a beta of 1.62.
Louisiana-Pacific (NYSE:LPX – Get Rating) last posted its earnings results on Tuesday, May 3rd. The building manufacturing company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.54 by $0.54. Louisiana-Pacific had a net margin of 31.62% and a return on equity of 105.01%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm posted $3.01 earnings per share. Louisiana-Pacific’s revenue for the quarter was up 31.5% compared to the same quarter last year. On average, equities analysts predict that Louisiana-Pacific Co. will post 14.58 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 26th. Investors of record on Thursday, May 12th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Wednesday, May 11th. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 5.31%.
Louisiana-Pacific Company Profile (Get Rating)
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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