Louisiana-Pacific Corporation $LPX Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 17.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,349 shares of the building manufacturing company’s stock after selling 29,878 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.20% of Louisiana-Pacific worth $10,349,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LPX. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Louisiana-Pacific in the second quarter valued at approximately $26,000. Los Angeles Capital Management LLC purchased a new position in Louisiana-Pacific during the fourth quarter worth approximately $29,000. Root Financial Partners LLC boosted its stake in Louisiana-Pacific by 177.6% during the first quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company’s stock worth $32,000 after buying an additional 277 shares during the last quarter. Whittier Trust Co. boosted its stake in Louisiana-Pacific by 138.1% during the first quarter. Whittier Trust Co. now owns 500 shares of the building manufacturing company’s stock worth $36,000 after buying an additional 290 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Louisiana-Pacific by 291.2% in the 3rd quarter. Larson Financial Group LLC now owns 536 shares of the building manufacturing company’s stock valued at $48,000 after buying an additional 399 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Up 3.2%

Shares of NYSE:LPX opened at $72.49 on Thursday. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of 61.43, a PEG ratio of 2.21 and a beta of 1.60. Louisiana-Pacific Corporation has a 12-month low of $66.12 and a 12-month high of $102.86. The business has a 50-day moving average price of $74.48 and a 200 day moving average price of $78.73. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The company had revenue of $574.00 million for the quarter, compared to analysts’ expectations of $569.99 million. During the same quarter in the prior year, the company posted $1.27 earnings per share. Louisiana-Pacific’s revenue for the quarter was down 20.7% compared to the same quarter last year. Sell-side analysts expect that Louisiana-Pacific Corporation will post 1.93 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is 101.69%.

Analyst Ratings Changes

LPX has been the subject of a number of recent research reports. TD raised their target price on Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Bank of America raised their price objective on shares of Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. TD Securities raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Finally, Truist Financial decreased their target price on shares of Louisiana-Pacific from $93.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Louisiana-Pacific currently has a consensus rating of “Moderate Buy” and an average price target of $97.80.

About Louisiana-Pacific

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.