Capital Research Global Investors Acquires 960,000 Shares of Louisiana-Pacific Corporation $LPX

Capital Research Global Investors grew its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 306.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,273,497 shares of the building manufacturing company’s stock after purchasing an additional 960,000 shares during the period. Capital Research Global Investors’ holdings in Louisiana-Pacific were worth $102,848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new stake in Louisiana-Pacific during the 4th quarter worth about $29,000. Fiduciary Management Inc. WI lifted its position in Louisiana-Pacific by 23.9% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,098,133 shares of the building manufacturing company’s stock worth $88,685,000 after buying an additional 211,513 shares in the last quarter. Havemeyer Place LP bought a new stake in Louisiana-Pacific during the 4th quarter worth about $410,000. State of Wyoming lifted its position in Louisiana-Pacific by 55.0% during the 4th quarter. State of Wyoming now owns 1,438 shares of the building manufacturing company’s stock worth $116,000 after buying an additional 510 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Louisiana-Pacific by 6.6% during the 4th quarter. Bank of New York Mellon Corp now owns 821,609 shares of the building manufacturing company’s stock worth $66,353,000 after buying an additional 50,792 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. BMO Capital Markets raised shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price target on the stock in a research report on Thursday, May 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $104.00 price target on shares of Louisiana-Pacific in a research report on Wednesday, February 18th. DA Davidson reaffirmed a “buy” rating and issued a $114.00 target price on shares of Louisiana-Pacific in a report on Tuesday, May 5th. TD raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Thursday, May 7th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $93.00 target price (down from $95.00) on shares of Louisiana-Pacific in a report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Louisiana-Pacific has an average rating of “Moderate Buy” and an average price target of $97.25.

Louisiana-Pacific Stock Down 0.7%

Shares of LPX stock opened at $70.13 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.48 and a current ratio of 3.26. The firm’s 50-day moving average is $72.83 and its 200-day moving average is $80.19. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 59.43, a PEG ratio of 1.77 and a beta of 1.60. Louisiana-Pacific Corporation has a 52-week low of $66.12 and a 52-week high of $102.86.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.24. The company had revenue of $574.00 million for the quarter, compared to analysts’ expectations of $569.99 million. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. Louisiana-Pacific’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 EPS. Sell-side analysts predict that Louisiana-Pacific Corporation will post 2 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio is presently 101.69%.

Louisiana-Pacific 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.