Bank of America Corp DE Makes New $26.39 Million Investment in Louisiana-Pacific Corporation $LPX

Key Points

• Bank of America purchased a new 335,478-share stake in Louisiana-Pacific during the second quarter, valued at approximately $26.39 million and representing 0.48% of the company.
• Analysts maintain a generally positive outlook, with 12 Buy, one Hold, and two Sell ratings. Louisiana-Pacific has a “Moderate Buy” consensus rating and an average price target of $93.67.
• Louisiana-Pacific’s latest quarter fell short of expectations, reporting $0.40 in EPS versus $0.56 expected and revenue down 12.1% year over year; the company also paid a quarterly dividend of $0.30 per share.

Bank of America Corp DE bought a new stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 335,478 shares of the building manufacturing company's stock, valued at approximately $26,389,000. Bank of America Corp DE owned 0.48% of Louisiana-Pacific at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LPX. Western Wealth Management LLC bought a new stake in Louisiana-Pacific during the 1st quarter worth approximately $25,000. Parallel Advisors LLC lifted its position in Louisiana-Pacific by 204.0% in the 1st quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company's stock valued at $28,000 after acquiring an additional 255 shares in the last quarter. Root Financial Partners LLC boosted its stake in Louisiana-Pacific by 177.6% in the 1st quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company's stock worth $32,000 after purchasing an additional 277 shares during the period. Whittier Trust Co. increased its holdings in Louisiana-Pacific by 138.1% during the 1st quarter. Whittier Trust Co. now owns 500 shares of the building manufacturing company's stock worth $36,000 after purchasing an additional 290 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of Louisiana-Pacific by 1,505.4% in the 1st quarter. Meeder Asset Management Inc. now owns 594 shares of the building manufacturing company's stock valued at $43,000 after purchasing an additional 557 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LPX shares. Bank of America boosted their price target on Louisiana-Pacific from $85.00 to $101.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. DA Davidson restated a "buy" rating and issued a $99.00 target price on shares of Louisiana-Pacific in a research note on Wednesday, September 2nd. Weiss Ratings raised Louisiana-Pacific from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, September 2nd. Barclays decreased their price target on shares of Louisiana-Pacific from $93.00 to $92.00 and set an "overweight" rating for the company in a research note on Thursday, August 6th. Finally, Truist Financial lowered their price objective on shares of Louisiana-Pacific from $91.00 to $89.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $93.67.

Louisiana-Pacific Stock Performance

LPX opened at $68.08 on Thursday. The business's 50-day simple moving average is $71.37 and its 200 day simple moving average is $73.22. Louisiana-Pacific Corporation has a 52-week low of $64.49 and a 52-week high of $100.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 3.22. The firm has a market capitalization of $4.76 billion, a PE ratio of 86.18, a PEG ratio of 9.63 and a beta of 1.59.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its quarterly 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 $664.00 million for the quarter, compared to analyst estimates of $667.31 million. Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The firm's revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. As a group, sell-side analysts expect that Louisiana-Pacific Corporation will post 1.17 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 14th. Louisiana-Pacific's dividend payout ratio (DPR) is 151.90%.

About Louisiana-Pacific

Louisiana-Pacific Corporation, operating as LP Building Solutions, manufactures building products used in residential, repair and remodeling, and commercial construction. Its portfolio includes oriented strand board (OSB) structural panels, siding, trim, and related engineered wood products designed for walls, roofs, floors, and exterior applications.

The company's principal brands include LP SmartSide siding and trim, which are engineered wood products for residential and light-commercial exteriors, and LP Structural Solutions products, including OSB panels and specialty sheathing.

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