Louisiana-Pacific Co. (NYSE:LPX) Plans Quarterly Dividend of $0.22

Louisiana-Pacific Co. (NYSE:LPXGet Rating) announced a quarterly dividend on Friday, August 5th, Zacks reports. Investors of record on Thursday, August 18th will be paid a dividend of 0.22 per share by the building manufacturing company on Thursday, September 1st. This represents a $0.88 annualized dividend and a yield of 1.43%. The ex-dividend date is Wednesday, August 17th.

Louisiana-Pacific has a dividend payout ratio of 13.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Louisiana-Pacific to earn $6.26 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 14.1%.

Louisiana-Pacific Price Performance

LPX traded down $0.41 during midday trading on Friday, reaching $61.38. 1,055,206 shares of the company’s stock were exchanged, compared to its average volume of 1,060,858. Louisiana-Pacific has a 1-year low of $49.98 and a 1-year high of $79.77. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.92 and a quick ratio of 2.09. The business’s 50-day moving average price is $60.18 and its 200 day moving average price is $64.55. The stock has a market capitalization of $5.04 billion, a PE ratio of 3.70 and a beta of 1.65.

Louisiana-Pacific (NYSE:LPXGet Rating) last issued its earnings results on Tuesday, May 3rd. The building manufacturing company reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.54. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Louisiana-Pacific had a net margin of 31.62% and a return on equity of 105.01%. The firm’s revenue was up 31.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.01 earnings per share. As a group, equities analysts anticipate that Louisiana-Pacific will post 13.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LPX. Bank of America lowered shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating and set a $67.00 price target for the company. in a research report on Thursday, June 23rd. TD Securities decreased their price target on shares of Louisiana-Pacific from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. Truist Financial assumed coverage on Louisiana-Pacific in a report on Wednesday, June 29th. They set a “hold” rating and a $57.00 price objective for the company. Finally, The Goldman Sachs Group dropped their price objective 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Louisiana-Pacific currently has a consensus rating of “Hold” and an average price target of $69.20.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. First Trust Advisors LP raised its stake in shares of Louisiana-Pacific by 24.7% in the first quarter. First Trust Advisors LP now owns 3,311,921 shares of the building manufacturing company’s stock valued at $205,737,000 after buying an additional 655,132 shares during the period. Renaissance Technologies LLC grew its position in Louisiana-Pacific by 191.7% during the first quarter. Renaissance Technologies LLC now owns 188,700 shares of the building manufacturing company’s stock worth $11,722,000 after buying an additional 124,000 shares in the last quarter. Verition Fund Management LLC boosted its holdings in shares of Louisiana-Pacific by 291.5% in the 1st quarter. Verition Fund Management LLC now owns 96,895 shares of the building manufacturing company’s stock worth $6,019,000 after purchasing an additional 72,146 shares in the last quarter. State Street Corp boosted its holdings in shares of Louisiana-Pacific by 2.1% in the 1st quarter. State Street Corp now owns 2,441,912 shares of the building manufacturing company’s stock worth $151,692,000 after purchasing an additional 50,575 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Louisiana-Pacific by 100.2% in the 1st quarter. Allianz Asset Management GmbH now owns 84,636 shares of the building manufacturing company’s stock worth $5,258,000 after purchasing an additional 42,370 shares in the last quarter. Hedge funds and other institutional investors own 94.99% of the company’s stock.

Louisiana-Pacific Company Profile

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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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Dividend History for Louisiana-Pacific (NYSE:LPX)

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