Louisiana-Pacific (NYSE:LPX) Trading 6.6% Higher Following Dividend Announcement

Louisiana-Pacific Co. (NYSE:LPX)’s stock price rose 6.6% during trading on Tuesday following a dividend announcement from the company. The company traded as high as $108.61 and last traded at $107.81. Approximately 145,986 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 840,850 shares. The stock had previously closed at $101.14.

The newly announced dividend which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Wednesday, November 20th. Louisiana-Pacific’s dividend payout ratio is currently 16.91%.

Analysts Set New Price Targets

Several analysts recently issued reports on LPX shares. Royal Bank of Canada upped their price objective on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday. Bank of America upped their price objective on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. The Goldman Sachs Group upped their price objective on shares of Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a report on Wednesday. StockNews.com raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Saturday, November 2nd. Finally, DA Davidson upped their price objective on shares of Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.78.

Louisiana-Pacific Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.95 and a current ratio of 3.38. The firm’s 50-day moving average price is $101.89 and its two-hundred day moving average price is $92.98. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 4.63 and a beta of 1.88.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.23. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The business had revenue of $814.00 million for the quarter, compared to analyst estimates of $797.26 million. During the same period in the previous year, the business earned $0.55 EPS. The firm’s revenue was up 33.2% on a year-over-year basis. Sell-side analysts predict that Louisiana-Pacific Co. will post 5.12 earnings per share for the current year.

Insider Activity

In other news, Director Ozey K. Horton, Jr. sold 800 shares of Louisiana-Pacific stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $96.10, for a total transaction of $76,880.00. Following the sale, the director now directly owns 29,008 shares in the company, valued at approximately $2,787,668.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 800 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $96.10, for a total value of $76,880.00. Following the transaction, the director now directly owns 29,008 shares in the company, valued at $2,787,668.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $98.30, for a total transaction of $245,750.00. Following the completion of the transaction, the director now owns 21,005 shares in the company, valued at approximately $2,064,791.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,900 shares of company stock worth $3,368,774. Corporate insiders own 1.53% of the company’s stock.

Hedge Funds Weigh In On Louisiana-Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in shares of Louisiana-Pacific by 4.1% in the first quarter. Private Advisor Group LLC now owns 7,839 shares of the building manufacturing company’s stock worth $658,000 after acquiring an additional 312 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Louisiana-Pacific by 0.5% in the first quarter. BNP Paribas Financial Markets now owns 59,907 shares of the building manufacturing company’s stock worth $5,027,000 after acquiring an additional 285 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Louisiana-Pacific in the first quarter worth about $25,000. Whittier Trust Co. bought a new position in shares of Louisiana-Pacific in the first quarter worth about $31,000. Finally, GSA Capital Partners LLP raised its stake in shares of Louisiana-Pacific by 106.0% in the first quarter. GSA Capital Partners LLP now owns 9,769 shares of the building manufacturing company’s stock worth $820,000 after acquiring an additional 5,027 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

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.