Waratah Capital Advisors Ltd. Reduces Stake in Louisiana-Pacific Co. (NYSE:LPX)

Waratah Capital Advisors Ltd. trimmed its stake in Louisiana-Pacific Co. (NYSE:LPXGet Rating) by 43.1% during the first quarter, Holdings Channel reports. The fund owned 371,872 shares of the building manufacturing company’s stock after selling 281,746 shares during the period. Waratah Capital Advisors Ltd.’s holdings in Louisiana-Pacific were worth $23,101,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new stake in shares of Louisiana-Pacific during the 4th quarter valued at approximately $27,000. TCI Wealth Advisors Inc. purchased a new stake in shares of Louisiana-Pacific during the 1st quarter valued at approximately $39,000. Ahrens Investment Partners LLC purchased a new stake in shares of Louisiana-Pacific during the 1st quarter valued at approximately $40,000. Rather & Kittrell Inc. purchased a new stake in Louisiana-Pacific in the 4th quarter worth approximately $43,000. Finally, Ellevest Inc. lifted its stake in Louisiana-Pacific by 51.6% in the 1st quarter. Ellevest Inc. now owns 1,234 shares of the building manufacturing company’s stock worth $77,000 after purchasing an additional 420 shares in the last quarter. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX traded down $0.41 during trading on Friday, reaching $61.38. The company had a trading volume of 1,055,206 shares, compared to its average volume of 1,060,858. The company has a fifty day moving average of $60.18 and a two-hundred day moving average of $64.55. The stock has a market capitalization of $5.04 billion, a P/E ratio of 3.70 and a beta of 1.65. Louisiana-Pacific Co. has a 12 month low of $49.98 and a 12 month high of $79.77. The company has a current ratio of 2.92, a quick ratio of 2.09 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPXGet Rating) last released its earnings results on Tuesday, May 3rd. The building manufacturing company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.54 by $0.54. Louisiana-Pacific had a net margin of 31.62% and a return on equity of 105.01%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the firm earned $3.01 EPS. The firm’s quarterly revenue was up 31.5% compared to the same quarter last year. Equities research analysts forecast that Louisiana-Pacific Co. will post 13.93 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Wednesday, August 17th. Louisiana-Pacific’s dividend payout ratio is currently 5.31%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial assumed coverage on shares of Louisiana-Pacific in a research note on Wednesday, June 29th. They issued a “hold” rating and a $57.00 target price on the stock. Bank of America cut shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating and set a $67.00 target price on the stock. in a research note on Thursday, June 23rd. TD Securities decreased their price target on shares of Louisiana-Pacific from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. Finally, The Goldman Sachs Group decreased their price target on shares of Louisiana-Pacific from $90.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, June 23rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $69.20.

Louisiana-Pacific Company Profile

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Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.

See Also

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Institutional Ownership by Quarter for Louisiana-Pacific (NYSE:LPX)

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