Van ECK Associates Corp Raises Position in Louisiana-Pacific Corporation $LPX

by · The Markets Daily

Van ECK Associates Corp raised its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX – Free Report) by 615.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 464,995 shares of the building manufacturing company’s stock after acquiring an additional 399,969 shares during the period. Van ECK Associates Corp’s holdings in Louisiana-Pacific were worth $36,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LPX. BlackRock Inc. bought a new stake in shares of Louisiana-Pacific during the 2nd quarter valued at about $506,638,000. Berkshire Hathaway Inc bought a new stake in Louisiana-Pacific during the second quarter valued at approximately $445,593,000. Eminence Capital LP grew its stake in Louisiana-Pacific by 29.9% in the 4th quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock worth $326,927,000 after buying an additional 932,177 shares in the last quarter. 59 North Capital Management LP grew its stake in Louisiana-Pacific by 26.3% in the 4th quarter. 59 North Capital Management LP now owns 3,536,884 shares of the building manufacturing company’s stock worth $285,639,000 after buying an additional 737,406 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Louisiana-Pacific by 1.3% in the 4th quarter. State Street Corp now owns 2,171,315 shares of the building manufacturing company’s stock worth $175,355,000 after buying an additional 27,710 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Barclays cut their target price on shares of Louisiana-Pacific from $93.00 to $92.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Weiss Ratings lowered Louisiana-Pacific from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. TD boosted their target price on Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Finally, Zacks Research downgraded shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.00.

View Our Latest Stock Report on Louisiana-Pacific

Louisiana-Pacific Trading Up 0.1%

Shares of LPX stock opened at $71.32 on Monday. The business has a 50-day moving average of $74.81 and a 200 day moving average of $75.71. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.22 and a quick ratio of 1.67. Louisiana-Pacific Corporation has a 1-year low of $66.12 and a 1-year high of $101.28. The stock has a market capitalization of $4.99 billion, a PE ratio of 90.28, a P/E/G ratio of 10.08 and a beta of 1.62.

Louisiana-Pacific (NYSE:LPX – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share 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 company had revenue of $665.00 million during the quarter, compared to the consensus estimate of $667.31 million. During the same quarter in the previous year, the firm posted $0.99 EPS. The business’s revenue for the quarter was down 12.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Louisiana-Pacific Corporation will post 1.17 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 1.7%. Louisiana-Pacific’s dividend payout ratio is presently 151.90%.

About Louisiana-Pacific

(Free Report)

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.

Further Reading

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