Millennium Management LLC increased its holdings in shares of Louisiana-Pacific (NYSE:LPX) by 78.2% in the first quarter, Holdings Channel reports. The fund owned 5,880,551 shares of the construction company’s stock after buying an additional 2,581,310 shares during the quarter. Millennium Management LLC’s holdings in Louisiana-Pacific were worth $169,183,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of LPX. BlackRock Inc. raised its position in Louisiana-Pacific by 3.0% during the 4th quarter. BlackRock Inc. now owns 17,529,786 shares of the construction company’s stock valued at $460,331,000 after purchasing an additional 503,239 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Louisiana-Pacific by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,498 shares of the construction company’s stock worth $122,143,000 after acquiring an additional 48,175 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Louisiana-Pacific by 9.4% in the 4th quarter. Bank of New York Mellon Corp now owns 3,734,888 shares of the construction company’s stock worth $98,078,000 after acquiring an additional 322,381 shares in the last quarter. Renaissance Technologies LLC raised 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 worth $90,965,000 after acquiring an additional 783,116 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of Louisiana-Pacific by 10.5% in the 1st quarter. Prudential Financial Inc. now owns 2,757,837 shares of the construction company’s stock worth $79,343,000 after acquiring an additional 260,940 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on LPX shares. ValuEngine upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 23rd. DA Davidson upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 8th. Seaport Global Securities started coverage on Louisiana-Pacific in a research note on Thursday, March 15th. They set a “buy” rating and a $37.00 target price on the stock. Royal Bank of Canada restated a “buy” rating and set a $39.00 target price on shares of Louisiana-Pacific in a research note on Tuesday, April 3rd. Finally, Zacks Investment Research downgraded Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Louisiana-Pacific has an average rating of “Hold” and a consensus price target of $32.71.
In other news, Director Gary Cook sold 2,558 shares of the business’s stock in a transaction dated Tuesday, May 22nd. The stock was sold at an average price of $29.00, for a total value of $74,182.00. Following the completion of the transaction, the director now owns 52,697 shares of the company’s stock, valued at approximately $1,528,213. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.48% of the company’s stock.
Louisiana-Pacific traded down $0.11, hitting $28.12, during trading hours on Friday, Marketbeat.com reports. 8,014 shares of the stock traded hands, compared to its average volume of 1,499,142. 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 company has a market cap of $4.08 billion, a PE ratio of 12.05, a PEG ratio of 1.91 and a beta of 1.60. Louisiana-Pacific has a 1 year low of $23.39 and a 1 year high of $31.19.
Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Monday, May 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.08). The company had revenue of $691.30 million during the quarter, compared to analyst estimates of $702.19 million. Louisiana-Pacific had a net margin of 15.13% and a return on equity of 25.35%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.33 EPS. analysts predict that Louisiana-Pacific will post 2.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 18th were issued a $0.13 dividend. The ex-dividend date was Thursday, May 17th. This represents a $0.52 annualized dividend and a dividend yield of 1.85%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 22.32%.
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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