Swiss National Bank decreased its position in Louisiana-Pacific Co. (NYSE:LPX) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 251,700 shares of the building manufacturing company’s stock after selling 5,600 shares during the quarter. Swiss National Bank owned approximately 0.20% of Louisiana-Pacific worth $6,600,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in LPX. Dimensional Fund Advisors LP boosted its position in Louisiana-Pacific by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,008,078 shares of the building manufacturing company’s stock worth $111,278,000 after acquiring an additional 390,428 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in Louisiana-Pacific in the 1st quarter worth $619,000. BNP Paribas Arbitrage SA increased its holdings in Louisiana-Pacific by 599.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 32,127 shares of the building manufacturing company’s stock worth $783,000 after acquiring an additional 27,536 shares in the last quarter. Dupont Capital Management Corp increased its holdings in Louisiana-Pacific by 72.8% in the 1st quarter. Dupont Capital Management Corp now owns 207,080 shares of the building manufacturing company’s stock worth $5,049,000 after acquiring an additional 87,254 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in Louisiana-Pacific by 735.4% in the 1st quarter. Tocqueville Asset Management L.P. now owns 356,150 shares of the building manufacturing company’s stock worth $8,683,000 after acquiring an additional 313,520 shares in the last quarter. Hedge funds and other institutional investors own 89.45% of the company’s stock.
Shares of Louisiana-Pacific stock opened at $22.25 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 3.62 and a debt-to-equity ratio of 0.28. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 8.12 and a beta of 1.41. The business has a fifty day simple moving average of $24.52 and a 200-day simple moving average of $24.76. Louisiana-Pacific Co. has a fifty-two week low of $20.39 and a fifty-two week high of $32.16.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 19th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Friday, August 16th. Louisiana-Pacific’s payout ratio is currently 19.71%.
A number of research firms recently commented on LPX. ValuEngine upgraded Louisiana-Pacific from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. BMO Capital Markets raised Louisiana-Pacific from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $26.00 to $28.00 in a research note on Friday, June 14th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, August 8th. Zacks Investment Research raised Louisiana-Pacific from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research note on Friday, August 2nd. Finally, Bank of America raised Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $24.75 price objective on the stock in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Louisiana-Pacific has a consensus rating of “Buy” and an average target price of $28.84.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in 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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