Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Louisiana-Pacific Co. (NYSE:LPX – Free Report) by 12.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 354,276 shares of the building manufacturing company’s stock after purchasing an additional 37,891 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.49% of Louisiana-Pacific worth $26,564,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of LPX. Raymond James & Associates raised its stake in Louisiana-Pacific by 4.1% in the 1st quarter. Raymond James & Associates now owns 47,998 shares of the building manufacturing company’s stock valued at $2,982,000 after purchasing an additional 1,898 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Louisiana-Pacific by 116.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,113 shares of the building manufacturing company’s stock worth $1,746,000 after purchasing an additional 15,115 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Louisiana-Pacific by 50.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,505 shares of the building manufacturing company’s stock valued at $590,000 after acquiring an additional 3,179 shares during the period. MetLife Investment Management LLC lifted its stake in Louisiana-Pacific by 34.1% during the first quarter. MetLife Investment Management LLC now owns 57,184 shares of the building manufacturing company’s stock worth $3,552,000 after purchasing an additional 14,544 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Louisiana-Pacific by 33.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,787 shares of the building manufacturing company’s stock worth $2,409,000 after purchasing an additional 9,615 shares in the last quarter. Institutional investors and hedge funds own 91.94% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. TheStreet cut Louisiana-Pacific from a “b-” rating to a “c+” rating in a report on Thursday, October 5th. Truist Financial cut their target price on shares of Louisiana-Pacific from $79.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. DA Davidson raised shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a research report on Wednesday, August 23rd. Royal Bank of Canada cut their price objective on Louisiana-Pacific from $75.00 to $72.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Finally, TD Securities decreased their target price on Louisiana-Pacific from $75.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, November 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Louisiana-Pacific currently has an average rating of “Moderate Buy” and an average price target of $72.00.
Louisiana-Pacific Trading Up 0.3 %
NYSE LPX opened at $61.14 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.80 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.41 billion, a P/E ratio of 39.96 and a beta of 1.71. Louisiana-Pacific Co. has a 52-week low of $49.47 and a 52-week high of $79.56. The firm has a 50-day moving average price of $55.81 and a 200 day moving average price of $62.56.
Louisiana-Pacific (NYSE:LPX – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The building manufacturing company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. Louisiana-Pacific had a return on equity of 15.51% and a net margin of 4.22%. The firm had revenue of $728.00 million for the quarter, compared to analyst estimates of $724.35 million. During the same quarter in the prior year, the company posted $1.72 earnings per share. Louisiana-Pacific’s quarterly revenue was down 14.6% on a year-over-year basis. Equities research analysts expect that Louisiana-Pacific Co. will post 3.02 EPS for the current year.
Louisiana-Pacific Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Friday, November 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Thursday, November 9th. Louisiana-Pacific’s dividend payout ratio is currently 62.75%.
Insiders Place Their Bets
In other news, CAO Derek Nelson Doyle sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $58.65, for a total transaction of $87,975.00. Following the sale, the chief accounting officer now owns 4,356 shares of the company’s stock, valued at approximately $255,479.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.26% of the stock is currently owned by company insiders.
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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