Toroso Investments LLC lifted its position in shares of Louisiana-Pacific Co. (NYSE:LPX – Free Report) by 15.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,722 shares of the building manufacturing company’s stock after buying an additional 3,950 shares during the quarter. Toroso Investments LLC’s holdings in Louisiana-Pacific were worth $1,611,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Zions Bancorporation N.A. acquired a new position in Louisiana-Pacific in the 1st quarter valued at $25,000. Belpointe Asset Management LLC acquired a new position in Louisiana-Pacific in the fourth quarter valued at $40,000. Allworth Financial LP lifted its position in Louisiana-Pacific by 3,494.7% during the first quarter. Allworth Financial LP now owns 683 shares of the building manufacturing company’s stock worth $37,000 after buying an additional 664 shares during the period. Spire Wealth Management boosted its stake in Louisiana-Pacific by 32.1% in the 1st quarter. Spire Wealth Management now owns 799 shares of the building manufacturing company’s stock worth $43,000 after buying an additional 194 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in Louisiana-Pacific in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 91.94% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on LPX shares. Royal Bank of Canada cut their price objective on shares of Louisiana-Pacific from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. DA Davidson raised shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Wednesday, August 23rd. StockNews.com assumed coverage on Louisiana-Pacific in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. TD Securities lowered their price target on Louisiana-Pacific from $83.00 to $78.00 and set a “hold” rating for the company in a research report on Thursday, August 3rd. Finally, Bank of America raised their price objective on Louisiana-Pacific from $58.00 to $60.00 in a report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $75.60.
Louisiana-Pacific Stock Down 1.0 %
Shares of Louisiana-Pacific stock opened at $58.63 on Friday. The company has a fifty day moving average price of $66.94 and a 200 day moving average price of $63.05. The company has a current ratio of 2.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.27. Louisiana-Pacific Co. has a twelve month low of $48.20 and a twelve month high of $79.56. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 19.87 and a beta of 1.72.
Louisiana-Pacific (NYSE:LPX – Get Free Report) last posted its earnings results on Wednesday, August 2nd. The building manufacturing company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.12). The company had revenue of $611.00 million during the quarter, compared to analyst estimates of $667.04 million. Louisiana-Pacific had a net margin of 7.96% and a return on equity of 16.60%. Louisiana-Pacific’s quarterly revenue was down 45.9% compared to the same quarter last year. During the same quarter last year, the business posted $4.19 EPS. Equities research analysts forecast that Louisiana-Pacific Co. will post 3.41 earnings per share for the current fiscal year.
Louisiana-Pacific Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.64%. Louisiana-Pacific’s payout ratio is currently 32.54%.
Louisiana-Pacific Company Profile
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, and South America. 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.
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