Legal & General Group Plc Invests $7.22 Million in Louisiana-Pacific Corporation $LPX

Legal & General Group Plc acquired a new stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 91,770 shares of the building manufacturing company’s stock, valued at approximately $7,219,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in Louisiana-Pacific in the 2nd quarter worth $3,577,000. Parsifal Capital Management LP bought a new stake in Louisiana-Pacific during the second quarter valued at about $18,465,986. Sanctuary Advisors LLC purchased a new stake in Louisiana-Pacific in the second quarter worth about $242,000. Evolve Private Wealth LLC purchased a new stake in Louisiana-Pacific in the second quarter worth about $274,000. Finally, Chou Associates Management Inc. bought a new position in shares of Louisiana-Pacific in the second quarter worth about $463,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $68.39 on Thursday. The company has a quick ratio of 1.67, a current ratio of 3.22 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Corporation has a twelve month low of $66.12 and a twelve month high of $101.28. The business has a 50-day moving average price of $74.38 and a 200-day moving average price of $75.14. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 86.56, a price-to-earnings-growth ratio of 9.74 and a beta of 1.59.

Louisiana-Pacific (NYSE:LPX) last issued its 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 net margin of 2.19% and a return on equity of 4.67%. The business had revenue of $664.00 million for the quarter, compared to the consensus estimate of $667.31 million. During the same period last year, the business posted $0.99 EPS. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, equities research analysts predict that Louisiana-Pacific Corporation will post 1.17 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is 151.90%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LPX shares. The Goldman Sachs Group boosted their price objective on Louisiana-Pacific from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Thursday, August 6th. Oppenheimer decreased their target price on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Jefferies Financial Group began coverage on shares of Louisiana-Pacific in a report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price target on the stock. BMO Capital Markets upgraded shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price target for the company in a research report on Thursday, May 7th. Finally, Zacks Research cut shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $94.00.

Louisiana-Pacific Profile

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.