Simplicity Wealth LLC Acquires Shares of 11,998 Louisiana-Pacific Corporation $LPX

Simplicity Wealth LLC bought a new position in shares of Louisiana-Pacific Corporation (NYSE:LPX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,998 shares of the building manufacturing company’s stock, valued at approximately $944,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Millennium Management LLC grew its position in Louisiana-Pacific by 128.6% during the 1st quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock worth $16,259,000 after purchasing an additional 99,455 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Louisiana-Pacific in the 1st quarter valued at about $273,000. Goldman Sachs Group Inc. lifted its holdings in shares of Louisiana-Pacific by 7.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock valued at $25,274,000 after buying an additional 18,413 shares during the period. Empowered Funds LLC lifted its holdings in shares of Louisiana-Pacific by 207.1% in the 1st quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock valued at $2,596,000 after buying an additional 19,029 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Louisiana-Pacific by 15.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company’s stock worth $20,747,000 after buying an additional 29,846 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Trading Down 0.1%

Shares of NYSE:LPX opened at $73.79 on Monday. The business’s 50 day moving average price is $75.32 and its 200-day moving average price is $76.97. Louisiana-Pacific Corporation has a 1 year low of $66.12 and a 1 year high of $101.28. The firm has a market capitalization of $5.16 billion, a price-to-earnings ratio of 93.40, a price-to-earnings-growth ratio of 10.46 and a beta of 1.62. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.22 and a quick ratio of 1.67.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.16). The company had revenue of $665.00 million during the quarter, compared to analysts’ expectations of $667.31 million. Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.Louisiana-Pacific’s revenue was down 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 EPS. On average, equities research analysts forecast that Louisiana-Pacific Corporation will post 1.17 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. Louisiana-Pacific’s payout ratio is currently 151.90%.

Analysts Set New Price Targets

Several research firms have commented on LPX. Zacks Research lowered Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Bank of America boosted their target price on shares of Louisiana-Pacific from $85.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Louisiana-Pacific in a research report on Wednesday, August 5th. The Goldman Sachs Group lifted their price objective on shares of Louisiana-Pacific from $66.00 to $74.00 and gave the company a “sell” rating in a report on Thursday, August 6th. Finally, Oppenheimer decreased their price objective on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $94.00.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.