Posted by admin on Aug 7th, 2022
Victory Capital Management Inc. cut its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 4.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 210,284 shares of the building manufacturing company’s stock after selling 10,199 shares during the quarter. Victory Capital Management Inc. owned 0.24% of Louisiana-Pacific worth $13,568,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of LPX. Rather & Kittrell Inc. acquired a new stake in shares of Louisiana-Pacific during the 4th quarter valued at about $43,000. TCI Wealth Advisors Inc. acquired a new stake in shares of Louisiana-Pacific during the 1st quarter valued at about $39,000. Ahrens Investment Partners LLC acquired a new stake in shares of Louisiana-Pacific during the 1st quarter valued at about $40,000. Ellevest Inc. lifted its holdings in shares of Louisiana-Pacific by 51.6% during the 1st 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 during the last quarter. Finally, Covestor Ltd acquired a new stake in shares of Louisiana-Pacific during the 4th quarter valued at about $100,000. 94.99% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE LPX opened at $61.38 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.92 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $60.18 and its two-hundred day moving average is $64.52. The company has a market cap of $5.04 billion, a P/E ratio of 3.70 and a beta of 1.65. Louisiana-Pacific Co. has a 12 month low of $49.98 and a 12 month high of $79.77.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, August 17th. Louisiana-Pacific’s dividend payout ratio is currently 5.31%.
Several brokerages have recently issued reports on LPX. Truist Financial began coverage on Louisiana-Pacific in a report on Wednesday, June 29th. They set a “hold” rating and a $57.00 price target for the company. The Goldman Sachs Group cut their price objective on Louisiana-Pacific from $90.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, June 23rd. TD Securities cut their price objective on Louisiana-Pacific from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. Finally, Bank of America downgraded Louisiana-Pacific from a “buy” rating to a “neutral” rating and set a $67.00 price objective on the stock. in a research note on Thursday, June 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently 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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