Louisiana-Pacific (NYSE:LPX) Hits New 12-Month High at $108.58

Louisiana-Pacific Co. (NYSE:LPX)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $108.58 and last traded at $108.27, with a volume of 22796 shares trading hands. The stock had previously closed at $107.46.

Analysts Set New Price Targets

LPX has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on Louisiana-Pacific from $101.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Bank of America upped their price target on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. The Goldman Sachs Group boosted their price objective on Louisiana-Pacific from $78.00 to $86.00 and gave the stock a “sell” rating in a research note on Thursday, August 8th. StockNews.com downgraded Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Finally, DA Davidson boosted their price target on Louisiana-Pacific from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $92.67.

Louisiana-Pacific Stock Performance

The firm has a fifty day moving average of $96.87 and a 200 day moving average of $88.18. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of 29.67, a PEG ratio of 4.95 and a beta of 1.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.38 and a quick ratio of 1.95.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.86 by $0.23. The business had revenue of $814.00 million for the quarter, compared to analyst estimates of $797.26 million. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. The company’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 EPS. As a group, sell-side analysts forecast that Louisiana-Pacific Co. will post 5.04 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $0.26 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.04 annualized dividend and a yield of 0.96%. Louisiana-Pacific’s payout ratio is 28.57%.

Insider Activity

In other Louisiana-Pacific news, CEO William Bradley Southern sold 32,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the completion of the sale, the chief executive officer now owns 596,886 shares of the company’s stock, valued at $55,773,027.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Ozey K. Horton, Jr. sold 800 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $96.10, for a total transaction of $76,880.00. Following the completion of the transaction, the director now directly owns 29,008 shares in the company, valued at $2,787,668.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William Bradley Southern sold 32,600 shares of Louisiana-Pacific stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total value of $3,046,144.00. Following the completion of the sale, the chief executive officer now directly owns 596,886 shares of the company’s stock, valued at $55,773,027.84. The disclosure for this sale can be found here. Insiders sold a total of 35,900 shares of company stock valued at $3,368,774 in the last 90 days. Company insiders own 1.26% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

Hedge funds and other institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Louisiana-Pacific in the 2nd quarter valued at approximately $1,268,000. Truist Financial Corp boosted its holdings in Louisiana-Pacific by 8.1% in the second quarter. Truist Financial Corp now owns 109,742 shares of the building manufacturing company’s stock valued at $9,035,000 after purchasing an additional 8,177 shares during the period. Quarry LP grew its stake in Louisiana-Pacific by 362.2% during the 2nd quarter. Quarry LP now owns 1,821 shares of the building manufacturing company’s stock worth $150,000 after purchasing an additional 1,427 shares in the last quarter. Creative Planning increased its holdings in Louisiana-Pacific by 5.7% during the 2nd quarter. Creative Planning now owns 9,162 shares of the building manufacturing company’s stock worth $754,000 after purchasing an additional 497 shares during the period. Finally, Algert Global LLC raised its position in Louisiana-Pacific by 7.1% in the 2nd quarter. Algert Global LLC now owns 182,779 shares of the building manufacturing company’s stock valued at $15,048,000 after purchasing an additional 12,079 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other 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, LP South America, and Other segments. 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.