Principal Financial Group Inc. Raises Position in Louisiana-Pacific Corporation $LPX

Principal Financial Group Inc. lifted its holdings in Louisiana-Pacific Corporation (NYSE:LPX) by 20.5% in the first quarter, Holdings Channel reports. The firm owned 497,852 shares of the building manufacturing company’s stock after buying an additional 84,661 shares during the period. Principal Financial Group Inc.’s holdings in Louisiana-Pacific were worth $36,219,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LPX. Fifth Third Bancorp increased its position in Louisiana-Pacific by 749.2% during the 1st quarter. Fifth Third Bancorp now owns 29,681 shares of the building manufacturing company’s stock valued at $2,159,000 after buying an additional 26,186 shares in the last quarter. Simplicity Wealth LLC grew its stake in shares of Louisiana-Pacific by 29.4% during the first quarter. Simplicity Wealth LLC now owns 7,384 shares of the building manufacturing company’s stock worth $537,000 after acquiring an additional 1,678 shares during the last quarter. KLCM Advisors Inc. increased its holdings in shares of Louisiana-Pacific by 79.5% during the first quarter. KLCM Advisors Inc. now owns 150,550 shares of the building manufacturing company’s stock valued at $10,953,000 after acquiring an additional 66,681 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in shares of Louisiana-Pacific by 12.2% during the first quarter. Kestra Advisory Services LLC now owns 5,128 shares of the building manufacturing company’s stock valued at $373,000 after acquiring an additional 556 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Louisiana-Pacific by 2.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,974 shares of the building manufacturing company’s stock valued at $944,000 after purchasing an additional 300 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on LPX shares. Weiss Ratings raised shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. DA Davidson reaffirmed a “buy” rating and issued a $114.00 price target on shares of Louisiana-Pacific in a report on Tuesday, May 5th. Truist Financial lowered their price objective on shares of Louisiana-Pacific from $93.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday. TD boosted their price objective on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.80.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX opened at $73.92 on Friday. Louisiana-Pacific Corporation has a twelve month low of $66.12 and a twelve month high of $102.86. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20. The company has a market cap of $5.16 billion, a PE ratio of 62.64, a price-to-earnings-growth ratio of 2.33 and a beta of 1.60. The company’s 50 day moving average is $74.51 and its 200 day moving average is $78.96.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.14 by $0.24. The business had revenue of $574.00 million during the quarter, compared to analysts’ expectations of $569.99 million. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.27 EPS. On average, sell-side analysts forecast that Louisiana-Pacific Corporation will post 1.93 EPS for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is 101.69%.

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.