Louisiana-Pacific Co. (NYSE:LPX) Sees Significant Decrease in Short Interest

Louisiana-Pacific Co. (NYSE:LPX) saw a large decline in short interest in November. As of November 29th, there was short interest totalling 5,180,000 shares, a decline of 12.9% from the November 14th total of 5,950,000 shares. Currently, 4.4% of the shares of the company are short sold. Based on an average daily volume of 1,620,000 shares, the days-to-cover ratio is presently 3.2 days.

A number of equities research analysts have weighed in on LPX shares. BMO Capital Markets lifted their price objective on Louisiana-Pacific from $28.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. ValuEngine lowered Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on Louisiana-Pacific to $35.00 and gave the company a “top pick” rating in a report on Wednesday, November 6th. TD Securities lifted their price target on shares of Louisiana-Pacific from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Longbow Research downgraded shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Louisiana-Pacific has a consensus rating of “Buy” and an average price target of $30.82.

Shares of NYSE LPX traded down $0.48 during trading on Friday, hitting $28.50. 850,941 shares of the company traded hands, compared to its average volume of 1,906,945. Louisiana-Pacific has a 1 year low of $20.39 and a 1 year high of $30.34. The company has a 50-day moving average price of $29.22 and a 200-day moving average price of $25.86. The firm has a market capitalization of $3.39 billion, a P/E ratio of 10.40 and a beta of 1.42. The company has a quick ratio of 2.32, a current ratio of 3.52 and a debt-to-equity ratio of 0.31.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Tuesday, November 5th. The building manufacturing company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.10). Louisiana-Pacific had a net margin of 2.67% and a return on equity of 4.93%. The company had revenue of $603.00 million for the quarter, compared to analysts’ expectations of $606.71 million. During the same period in the prior year, the firm earned $0.83 earnings per share. The firm’s quarterly revenue was down 18.2% on a year-over-year basis. Research analysts predict that Louisiana-Pacific will post 0.4 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.54 annualized dividend and a dividend yield of 1.89%. Louisiana-Pacific’s dividend payout ratio is presently 19.71%.

In other Louisiana-Pacific news, CEO William Bradley Southern acquired 3,745 shares of the stock in a transaction on Tuesday, November 19th. The shares were bought at an average price of $29.36 per share, with a total value of $109,953.20. Following the acquisition, the chief executive officer now owns 252,431 shares of the company’s stock, valued at $7,411,374.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary Cook sold 10,000 shares of Louisiana-Pacific stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $29.95, for a total value of $299,500.00. Following the completion of the sale, the director now directly owns 44,462 shares in the company, valued at approximately $1,331,636.90. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in Louisiana-Pacific by 40.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 464,072 shares of the building manufacturing company’s stock worth $11,410,000 after purchasing an additional 132,782 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Louisiana-Pacific during the 2nd quarter worth $262,000. Bank of Montreal Can lifted its holdings in Louisiana-Pacific by 108.2% in the 2nd quarter. Bank of Montreal Can now owns 657,086 shares of the building manufacturing company’s stock worth $17,228,000 after buying an additional 341,453 shares in the last quarter. Brasada Capital Management LP acquired a new position in Louisiana-Pacific in the 3rd quarter worth $184,000. Finally, Millennium Management LLC lifted its holdings in Louisiana-Pacific by 715.9% in the 3rd quarter. Millennium Management LLC now owns 4,322,397 shares of the building manufacturing company’s stock worth $106,244,000 after buying an additional 3,792,636 shares in the last quarter. 96.66% of the stock is owned by institutional investors.

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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