Bank of New York Mellon Corp Acquires New Position in Louisiana-Pacific Corporation $LPX

Key Points

• Bank of New York Mellon acquired 557,398 Louisiana-Pacific shares worth approximately $43.8 million, representing about 0.80% of the company. Institutional investors collectively own 94.73% of LPX.
• Louisiana-Pacific reported quarterly EPS of $0.40, below the $0.56 analyst consensus, while revenue fell 12.1% year over year to $665 million. The stock opened at $70.86, well below its 12-month high of $101.28.
• The company declared a quarterly dividend of $0.30 per share, or $1.20 annualized, yielding about 1.7%. Analysts maintain a “Moderate Buy” consensus with an average price target of $94.00, despite mixed recent ratings.

Bank of New York Mellon Corp acquired a new position in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 557,398 shares of the building manufacturing company's stock, valued at approximately $43,845,000. Bank of New York Mellon Corp owned approximately 0.80% of Louisiana-Pacific at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Louisiana-Pacific by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,160,434 shares of the building manufacturing company's stock worth $93,735,000 after buying an additional 18,287 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Louisiana-Pacific by 20.5% during the 1st quarter. Principal Financial Group Inc. now owns 497,852 shares of the building manufacturing company's stock valued at $36,219,000 after acquiring an additional 84,661 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in Louisiana-Pacific during the fourth quarter worth about $14,472,000. Thrivent Financial for Lutherans raised its position in Louisiana-Pacific by 2,547.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 385,416 shares of the building manufacturing company's stock worth $31,126,000 after acquiring an additional 370,856 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Louisiana-Pacific in the fourth quarter valued at about $60,184,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Price Performance

LPX stock opened at $70.86 on Friday. The company has a market cap of $4.95 billion, a PE ratio of 89.70, a price-to-earnings-growth ratio of 10.08 and a beta of 1.62. The company has a current ratio of 3.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The stock has a 50-day moving average price of $74.94 and a two-hundred day moving average price of $75.90. Louisiana-Pacific Corporation has a 12-month low of $66.12 and a 12-month high of $101.28.

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

Louisiana-Pacific Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LPX shares. TD raised their price objective on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Barclays reduced their target price on Louisiana-Pacific from $93.00 to $92.00 and set an "overweight" rating on the stock in a research note on Thursday, August 6th. Bank of America raised 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. Oppenheimer cut their price target on Louisiana-Pacific from $115.00 to $107.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. Finally, Zacks Research cut Louisiana-Pacific from a "hold" rating to a "strong sell" rating in a report on Tuesday, June 30th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $94.00.

About Louisiana-Pacific

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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