Westpac Banking Corp Purchases New Position in Louisiana-Pacific Corporation $LPX

Westpac Banking Corp purchased a new stake in Louisiana-Pacific Corporation (NYSE:LPX) during the second quarter, Holdings Channel reports. The firm purchased 10,752 shares of the building manufacturing company’s stock, valued at approximately $846,000.

Several other hedge funds have also recently bought and sold shares of LPX. Western Wealth Management LLC bought a new position in shares of Louisiana-Pacific during the first quarter valued at $25,000. North Ridge Wealth Advisors Inc. bought a new stake in shares of Louisiana-Pacific in the 2nd quarter worth about $26,000. Parallel Advisors LLC grew its holdings in shares of Louisiana-Pacific by 204.0% in the 1st quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock worth $28,000 after purchasing an additional 255 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Louisiana-Pacific in the 4th quarter worth about $29,000. Finally, Root Financial Partners LLC increased its position in shares of Louisiana-Pacific by 177.6% during the 1st quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company’s stock worth $32,000 after purchasing an additional 277 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Stock Performance

Shares of NYSE:LPX opened at $73.19 on Friday. Louisiana-Pacific Corporation has a twelve month low of $66.12 and a twelve month high of $101.28. The firm has a market cap of $5.12 billion, a PE ratio of 92.65, a price-to-earnings-growth ratio of 10.36 and a beta of 1.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 3.22. The business has a fifty day moving average of $75.35 and a 200-day moving average of $76.57.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.16). Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The company had revenue of $665.00 million for the quarter, compared to analyst estimates of $667.31 million. During the same quarter last year, the company earned $0.99 EPS. The firm’s quarterly revenue was down 12.1% on a year-over-year basis. On average, equities research analysts predict that Louisiana-Pacific Corporation will post 1.17 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. Louisiana-Pacific’s payout ratio is currently 151.90%.

Wall Street Analysts Forecast Growth

LPX has been the subject of several analyst reports. Barclays cut their price target on shares of Louisiana-Pacific from $93.00 to $92.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. DA Davidson decreased their price objective on shares of Louisiana-Pacific from $103.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. TD Securities raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. Bank of America lifted their target price on shares of Louisiana-Pacific from $85.00 to $101.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Oppenheimer reduced their target price on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

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.