21,279 Shares in Louisiana-Pacific Corporation $LPX Acquired by Westpac Banking Corp

Key Points

• Westpac Banking Corp bought a new stake in Louisiana-Pacific during the first quarter, acquiring 21,279 shares valued at about $1.55 million.
• Louisiana-Pacific's latest quarterly results beat expectations, with EPS of $0.38 versus the $0.14 estimate and revenue of $574 million, though sales were still down 20.7% year over year.
• Wall Street sentiment remains positive overall: the stock has a Moderate Buy consensus with an average target price of $97.80, and 11 analysts currently rate it a Buy.

Westpac Banking Corp purchased a new stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,279 shares of the building manufacturing company's stock, valued at approximately $1,548,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LPX. Boston Partners acquired a new stake in shares of Louisiana-Pacific in the third quarter worth $100,770,000. Capital Research Global Investors raised its stake in shares of Louisiana-Pacific by 306.2% in the 4th quarter. Capital Research Global Investors now owns 1,273,497 shares of the building manufacturing company's stock valued at $102,848,000 after acquiring an additional 960,000 shares during the period. Eminence Capital LP lifted its holdings in shares of Louisiana-Pacific by 29.9% during the 4th quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company's stock valued at $326,927,000 after acquiring an additional 932,177 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Louisiana-Pacific during the 1st quarter valued at $56,596,000. Finally, Norges Bank purchased a new stake in Louisiana-Pacific during the 4th quarter worth $60,184,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Louisiana-Pacific Stock Up 3.2%

Shares of Louisiana-Pacific stock opened at $72.49 on Thursday. The business has a 50-day moving average of $74.48 and a 200-day moving average of $78.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48. The company has a market capitalization of $5.06 billion, a PE ratio of 61.43, a P/E/G ratio of 2.21 and a beta of 1.60. Louisiana-Pacific Corporation has a 1-year low of $66.12 and a 1-year high of $102.86.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.14 by $0.24. The business had revenue of $574.00 million for the quarter, compared to analysts' expectations of $569.99 million. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The company's revenue was down 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 earnings per share. As a group, equities analysts forecast that Louisiana-Pacific Corporation will post 1.93 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.7%. Louisiana-Pacific's payout ratio is currently 101.69%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Jefferies Financial Group began coverage on Louisiana-Pacific in a report on Tuesday, June 23rd. They issued a "buy" rating and a $93.00 price target for the company. Truist Financial decreased their target price on Louisiana-Pacific from $93.00 to $91.00 and set a "buy" rating for the company in a research report on Wednesday, July 15th. Oppenheimer decreased their target price on Louisiana-Pacific from $115.00 to $107.00 and set an "outperform" rating for the company in a research report on Thursday, May 7th. BMO Capital Markets upgraded Louisiana-Pacific from a "market perform" rating to an "outperform" rating and set a $94.00 target price on the stock in a report on Thursday, May 7th. Finally, Bank of America boosted their price target on Louisiana-Pacific from $85.00 to $101.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.80.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation NYSE: LPX is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.

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