Louisiana-Pacific Co. (NYSE:LPX – Get Free Report) SVP Michael W. Blosser sold 4,060 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $67.00, for a total value of $272,020.00. Following the sale, the senior vice president now owns 49,858 shares of the company’s stock, valued at $3,340,486. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Louisiana-Pacific Trading Up 6.3 %
LPX traded up $4.12 during trading on Thursday, reaching $69.40. 1,168,951 shares of the company’s stock were exchanged, compared to its average volume of 865,853. The company has a current ratio of 2.80, a quick ratio of 1.38 and a debt-to-equity ratio of 0.23. Louisiana-Pacific Co. has a one year low of $49.47 and a one year high of $79.56. The firm has a fifty day moving average price of $57.79 and a two-hundred day moving average price of $62.62. The stock has a market capitalization of $5.00 billion, a PE ratio of 42.67 and a beta of 1.72.
Louisiana-Pacific (NYSE:LPX – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The building manufacturing company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.09. The company had revenue of $728.00 million for the quarter, compared to analysts’ expectations of $724.35 million. Louisiana-Pacific had a net margin of 4.22% and a return on equity of 15.51%. Louisiana-Pacific’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. As a group, equities research analysts forecast that Louisiana-Pacific Co. will post 2.99 earnings per share for the current fiscal year.
Louisiana-Pacific Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Friday, November 10th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.96 annualized dividend and a dividend yield of 1.38%. Louisiana-Pacific’s payout ratio is 62.75%.
Analyst Upgrades and Downgrades
LPX has been the subject of several recent analyst reports. StockNews.com upgraded Louisiana-Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 2nd. Royal Bank of Canada dropped their target price on shares of Louisiana-Pacific from $75.00 to $72.00 and set an “outperform” rating for the company in a report on Thursday, November 2nd. DA Davidson raised shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Wednesday, August 23rd. TD Securities dropped their price objective on shares of Louisiana-Pacific from $75.00 to $71.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Finally, Truist Financial decreased their target price on shares of Louisiana-Pacific from $79.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.86.
Hedge Funds Weigh In On Louisiana-Pacific
A number of hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky increased its position in Louisiana-Pacific by 29.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 51,629 shares of the building manufacturing company’s stock valued at $2,853,000 after purchasing an additional 11,891 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Louisiana-Pacific in the 3rd quarter valued at $292,000. Cannell Capital LLC acquired a new stake in shares of Louisiana-Pacific during the third quarter worth $4,700,000. Invst LLC increased its position in shares of Louisiana-Pacific by 3.2% during the third quarter. Invst LLC now owns 13,160 shares of the building manufacturing company’s stock worth $727,000 after buying an additional 407 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in Louisiana-Pacific by 21.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 503,348 shares of the building manufacturing company’s stock worth $27,820,000 after buying an additional 88,147 shares during the last quarter. 91.94% of the stock is currently owned by institutional investors.
About Louisiana-Pacific
Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through: Siding, Oriented Strand Board, and South America. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.