Louisiana-Pacific Corporation $LPX Stake Increased by Squarepoint Ops LLC

by · The Markets Daily

Squarepoint Ops LLC boosted its stake in Louisiana-Pacific Corporation (NYSE:LPX – Free Report) by 476.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 26,238 shares of the building manufacturing company’s stock after buying an additional 21,685 shares during the period. Squarepoint Ops LLC’s holdings in Louisiana-Pacific were worth $2,064,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Western Wealth Management LLC bought a new stake in shares of Louisiana-Pacific in the 1st quarter worth about $25,000. Parallel Advisors LLC raised its stake 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 valued at $28,000 after purchasing an additional 255 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of 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 purchasing an additional 277 shares during the last quarter. Whittier Trust Co. lifted its position in shares of 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 purchasing an additional 290 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Louisiana-Pacific by 1,505.4% in the first quarter. Meeder Asset Management Inc. now owns 594 shares of the building manufacturing company’s stock worth $43,000 after purchasing an additional 557 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on LPX shares. Bank of America boosted their price objective on Louisiana-Pacific from $85.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Truist Financial lowered their price target on Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, August 6th. TD upped their price target on Louisiana-Pacific from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. The Goldman Sachs Group raised their price objective on Louisiana-Pacific from $66.00 to $74.00 and gave the stock a “sell” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings raised shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Twelve investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Louisiana-Pacific has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Read Our Latest Stock Report on LPX

Louisiana-Pacific Trading Down 0.7%

Shares of NYSE:LPX opened at $66.83 on Tuesday. The company has a 50 day moving average of $72.41 and a 200-day moving average of $74.04. The company has a current ratio of 3.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The firm has a market cap of $4.67 billion, a P/E ratio of 84.59, a P/E/G ratio of 9.52 and a beta of 1.59. Louisiana-Pacific Corporation has a twelve month low of $65.35 and a twelve month high of $100.34.

Louisiana-Pacific (NYSE:LPX – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The firm had revenue of $664.00 million during the quarter, compared to the consensus estimate of $667.31 million. Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. As a group, analysts anticipate that Louisiana-Pacific Corporation will post 1.17 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. Louisiana-Pacific’s payout ratio is currently 151.90%.

Louisiana-Pacific Company Profile

(Free Report)

Louisiana-Pacific Corporation, operating as LP Building Solutions, manufactures building products used in residential, repair and remodeling, and commercial construction. Its portfolio includes oriented strand board (OSB) structural panels, siding, trim, and related engineered wood products designed for walls, roofs, floors, and exterior applications.

The company’s principal brands include LP SmartSide siding and trim, which are engineered wood products for residential and light-commercial exteriors, and LP Structural Solutions products, including OSB panels and specialty sheathing.

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