BlackRock Inc. reduced its stake in Louisiana-Pacific Co. (NYSE:LPX) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,828,359 shares of the building manufacturing company’s stock after selling 108,462 shares during the quarter. BlackRock Inc. owned approximately 14.44% of Louisiana-Pacific worth $434,656,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Valeo Financial Advisors LLC bought a new position in Louisiana-Pacific in the 1st quarter worth $45,000. Toronto Dominion Bank grew its position in shares of Louisiana-Pacific by 28.5% during the fourth quarter. Toronto Dominion Bank now owns 2,570 shares of the building manufacturing company’s stock valued at $57,000 after purchasing an additional 570 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new position in shares of Louisiana-Pacific during the first quarter valued at about $134,000. Hollencrest Capital Management purchased a new position in shares of Louisiana-Pacific during the first quarter valued at about $213,000. Finally, Virtu Financial LLC purchased a new position in shares of Louisiana-Pacific during the first quarter valued at about $215,000. 89.45% of the stock is currently owned by institutional investors.
Several research analysts recently commented on LPX shares. Zacks Investment Research upgraded Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Bank of America upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $24.75 target price for the company in a research report on Tuesday, April 30th. Stephens upgraded Louisiana-Pacific from an “equal weight” rating to an “overweight” rating and set a $32.00 target price for the company in a research report on Friday, April 5th. BMO Capital Markets raised shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $26.00 to $28.00 in a research note on Friday, June 14th. Finally, ValuEngine raised shares of Louisiana-Pacific from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $29.25.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Tuesday, May 7th. The building manufacturing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Louisiana-Pacific had a net margin of 12.16% and a return on equity of 19.63%. The company had revenue of $582.00 million for the quarter, compared to analysts’ expectations of $601.49 million. During the same period last year, the firm earned $0.63 earnings per share. Louisiana-Pacific’s quarterly revenue was down 15.8% compared to the same quarter last year. On average, equities research analysts forecast that Louisiana-Pacific Co. will post 1.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Tuesday, May 21st were given a $0.135 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.06%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 19.71%.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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