Louisiana-Pacific (NYSE:LPX) Hits New 1-Year High at $108.58

Louisiana-Pacific Co. (NYSE:LPX) reached a new 52-week high on Tuesday . The stock traded as high as $108.58 and last traded at $108.27, with a volume of 22796 shares trading hands. The stock had previously closed at $107.46.

Wall Street Analysts Forecast Growth

LPX has been the topic of several recent research reports. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up from $101.00) on shares of Louisiana-Pacific in a report on Thursday, August 8th. StockNews.com lowered shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Bank of America boosted their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. The Goldman Sachs Group lifted their price target on Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a research report on Thursday, August 8th. Finally, DA Davidson upped their price objective on Louisiana-Pacific from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $92.67.

Louisiana-Pacific Stock Performance

The firm has a market capitalization of $7.75 billion, a P/E ratio of 29.67, a P/E/G ratio of 4.95 and a beta of 1.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.38 and a quick ratio of 1.95. The firm has a 50-day moving average price of $96.87 and a two-hundred day moving average price of $88.18.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The business had revenue of $814.00 million for the quarter, compared to the consensus estimate of $797.26 million. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The company’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.55 EPS. On average, analysts forecast that Louisiana-Pacific Co. will post 5.04 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.04 annualized dividend and a dividend yield of 0.96%. Louisiana-Pacific’s dividend payout ratio is currently 28.57%.

Insiders Place Their Bets

In other Louisiana-Pacific news, CEO William Bradley Southern sold 32,600 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the completion of the sale, the chief executive officer now owns 596,886 shares in the company, valued at $55,773,027.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Ozey K. Horton, Jr. sold 800 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $96.10, for a total transaction of $76,880.00. Following the completion of the transaction, the director now owns 29,008 shares in the company, valued at approximately $2,787,668.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Bradley Southern sold 32,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the completion of the sale, the chief executive officer now owns 596,886 shares of the company’s stock, valued at $55,773,027.84. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $3,368,774 in the last three months. Corporate insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

A number of large investors have recently made changes to their positions in LPX. William Blair Investment Management LLC purchased a new stake in Louisiana-Pacific in the second quarter valued at about $91,053,000. Balyasny Asset Management L.P. boosted its stake in Louisiana-Pacific by 16,827.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 717,059 shares of the building manufacturing company’s stock worth $50,789,000 after purchasing an additional 712,823 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Louisiana-Pacific by 83.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,563,117 shares of the building manufacturing company’s stock worth $110,717,000 after buying an additional 712,671 shares during the period. Marshall Wace LLP lifted its stake in shares of Louisiana-Pacific by 92.4% during the second quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock worth $103,363,000 after buying an additional 602,803 shares during the period. Finally, Eminence Capital LP grew its holdings in shares of Louisiana-Pacific by 31.4% during the fourth quarter. Eminence Capital LP now owns 2,056,991 shares of the building manufacturing company’s stock valued at $145,697,000 after buying an additional 491,641 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.