LSV Asset Management raised its stake in Louisiana-Pacific (NYSE:LPX) by 62.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,200 shares of the construction company’s stock after buying an additional 12,000 shares during the period. LSV Asset Management’s holdings in Louisiana-Pacific were worth $897,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LPX. American Century Companies Inc. grew its position in shares of Louisiana-Pacific by 232.0% in the 4th quarter. American Century Companies Inc. now owns 1,799,091 shares of the construction company’s stock valued at $47,244,000 after buying an additional 1,257,159 shares during the last quarter. APG Asset Management N.V. grew its position in shares of Louisiana-Pacific by 190.2% in the 4th quarter. APG Asset Management N.V. now owns 1,553,100 shares of the construction company’s stock valued at $33,964,000 after buying an additional 1,017,900 shares during the last quarter. Millennium Management LLC grew its position in shares of Louisiana-Pacific by 37.1% in the 4th quarter. Millennium Management LLC now owns 3,299,241 shares of the construction company’s stock valued at $86,638,000 after buying an additional 893,446 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Louisiana-Pacific by 29.2% in the 4th quarter. Renaissance Technologies LLC now owns 3,464,000 shares of the construction company’s stock valued at $90,965,000 after buying an additional 783,116 shares during the last quarter. Finally, NorthCoast Asset Management LLC boosted its position in shares of Louisiana-Pacific by 369.7% during the 4th quarter. NorthCoast Asset Management LLC now owns 810,463 shares of the construction company’s stock valued at $21,283,000 after purchasing an additional 637,916 shares in the last quarter. Hedge funds and other institutional investors own 90.84% of the company’s stock.
Several brokerages recently commented on LPX. ValuEngine upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets restated a “sell” rating and set a $27.00 target price on shares of Louisiana-Pacific in a research report on Tuesday, April 24th. DA Davidson upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 8th. Royal Bank of Canada restated a “buy” rating and set a $39.00 target price on shares of Louisiana-Pacific in a research report on Tuesday, April 3rd. Finally, Stephens set a $32.00 target price on Louisiana-Pacific and gave the company a “hold” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Louisiana-Pacific presently has an average rating of “Hold” and an average price target of $32.71.
Shares of Louisiana-Pacific opened at $28.90 on Thursday, Marketbeat Ratings reports. Louisiana-Pacific has a one year low of $22.07 and a one year high of $31.19. The company has a debt-to-equity ratio of 0.21, a quick ratio of 4.53 and a current ratio of 5.92. The stock has a market cap of $4.16 billion, a P/E ratio of 12.40, a price-to-earnings-growth ratio of 1.96 and a beta of 1.59.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Monday, May 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). The firm had revenue of $691.30 million during the quarter, compared to the consensus estimate of $702.19 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 15.13%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 EPS. equities research analysts expect that Louisiana-Pacific will post 2.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $0.52 annualized dividend and a yield of 1.80%. Louisiana-Pacific’s payout ratio is currently 22.32%.
In other Louisiana-Pacific news, Director Gary Cook sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $28.58, for a total value of $142,900.00. Following the transaction, the director now owns 50,026 shares in the company, valued at $1,429,743.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.48% of the stock is currently owned by corporate insiders.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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