6,440,864 Shares in Louisiana-Pacific Corporation $LPX Bought by BlackRock Inc.

BlackRock Inc. purchased a new stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,440,864 shares of the building manufacturing company's stock, valued at approximately $506,638,000. BlackRock Inc. owned about 9.22% of Louisiana-Pacific as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in Louisiana-Pacific by 128.6% in the 1st quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company's stock valued at $16,259,000 after purchasing an additional 99,455 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Louisiana-Pacific during the first quarter valued at approximately $273,000. Goldman Sachs Group Inc. raised its stake in shares of Louisiana-Pacific by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company's stock valued at $25,274,000 after purchasing an additional 18,413 shares in the last quarter. Empowered Funds LLC boosted its stake in Louisiana-Pacific by 207.1% during the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company's stock worth $2,596,000 after buying an additional 19,029 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Louisiana-Pacific by 15.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company's stock valued at $20,747,000 after buying an additional 29,846 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Louisiana-Pacific Stock Down 0.7%

Shares of Louisiana-Pacific stock opened at $72.67 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 3.22 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Corporation has a 12 month low of $66.12 and a 12 month high of $101.28. The business has a fifty day simple moving average of $75.26 and a 200 day simple moving average of $76.40. The stock has a market cap of $5.08 billion, a PE ratio of 91.99, a price-to-earnings-growth ratio of 10.36 and a beta of 1.62.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.16). The company had revenue of $665.00 million during the quarter, compared to analyst estimates of $667.31 million. Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The company's quarterly revenue was down 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 EPS. Research analysts predict that Louisiana-Pacific Corporation will post 1.17 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 14th. Louisiana-Pacific's dividend payout ratio is presently 151.90%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. DA Davidson decreased their price target on Louisiana-Pacific from $103.00 to $99.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Truist Financial decreased their price target on Louisiana-Pacific from $91.00 to $89.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Oppenheimer decreased their target price on Louisiana-Pacific from $115.00 to $107.00 and set an "outperform" rating on the stock in a report on Thursday, May 7th. Zacks Research downgraded shares of Louisiana-Pacific from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 30th. Finally, TD increased their price target on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $94.00.

Louisiana-Pacific 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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