Allspring Global Investments Holdings LLC Buys 38,389 Shares of Louisiana-Pacific Corporation $LPX

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Louisiana-Pacific Corporation by 28.0%, acquiring an additional 38,389 shares, bringing its total holdings to 175,328 shares valued at approximately $16 million.
• Analysts have mixed ratings on Louisiana-Pacific, with Zacks Research upgrading the stock from "strong sell" to "hold," while Wall Street Zen downgraded it from "hold" to "sell."
• Louisiana-Pacific announced a quarterly dividend of $0.28, resulting in an annualized dividend of $1.12 and a yield of 1.2%, with a current payout ratio of 26.42%.

Allspring Global Investments Holdings LLC lifted its stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 28.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 175,328 shares of the building manufacturing company's stock after purchasing an additional 38,389 shares during the period. Allspring Global Investments Holdings LLC owned about 0.25% of Louisiana-Pacific worth $16,004,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LPX. Chung Wu Investment Group LLC bought a new position in shares of Louisiana-Pacific in the second quarter worth about $26,000. RMG Wealth Management LLC purchased a new stake in Louisiana-Pacific in the second quarter worth about $44,000. Beacon Capital Management LLC lifted its stake in Louisiana-Pacific by 570.6% in the second quarter. Beacon Capital Management LLC now owns 684 shares of the building manufacturing company's stock worth $59,000 after acquiring an additional 582 shares during the period. Fifth Third Bancorp lifted its stake in Louisiana-Pacific by 41.5% in the first quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock worth $96,000 after acquiring an additional 305 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in Louisiana-Pacific by 67.2% in the first quarter. First Horizon Advisors Inc. now owns 1,204 shares of the building manufacturing company's stock worth $111,000 after acquiring an additional 484 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LPX shares. Zacks Research raised shares of Louisiana-Pacific from a "strong sell" rating to a "hold" rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Louisiana-Pacific in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. DA Davidson reaffirmed a "buy" rating and issued a $117.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, September 25th. Finally, Truist Financial lowered their price objective on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Louisiana-Pacific currently has an average rating of "Hold" and an average price target of $110.57.

Louisiana-Pacific Stock Performance

LPX stock opened at $90.09 on Friday. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 2.07 and a beta of 1.80. The firm has a 50-day simple moving average of $92.90 and a two-hundred day simple moving average of $90.50. Louisiana-Pacific Corporation has a one year low of $78.82 and a one year high of $122.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $751.15 million. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The company's quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. On average, equities analysts forecast that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 15th. Louisiana-Pacific's dividend payout ratio (DPR) is presently 26.42%.

Insider Activity at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the completion of the transaction, the director directly owned 29,728 shares of the company's stock, valued at $3,002,528. This trade represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.42% of the stock is owned by insiders.

Louisiana-Pacific Profile

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.

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