Eminence Capital LP Raises Stock Position in Louisiana-Pacific Corporation $LPX

Key Points

• Eminence Capital LP increased its stake in Louisiana-Pacific Corporation by 16.0%, owning 1,675,943 shares worth approximately $154.15 million, making LPX its 19th largest holding.
• Analysts have varied ratings on Louisiana-Pacific stock, with Loop Capital upgrading it to a "buy" rating and a target price of $110.00, while Wall Street Zen downgraded it to a "sell" rating.
• The company recently announced a quarterly dividend of $0.28 per share, yielding 1.2%, with a payout ratio of 26.42%.

Eminence Capital LP raised its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 16.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,675,943 shares of the building manufacturing company's stock after purchasing an additional 230,837 shares during the period. Louisiana-Pacific accounts for approximately 2.6% of Eminence Capital LP's portfolio, making the stock its 19th biggest holding. Eminence Capital LP owned approximately 2.41% of Louisiana-Pacific worth $154,153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its holdings in Louisiana-Pacific by 76.1% in the 1st quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock valued at $52,000 after purchasing an additional 242 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Louisiana-Pacific by 41.5% in the 1st quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock valued at $96,000 after purchasing an additional 305 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Louisiana-Pacific by 67.2% in the 1st quarter. First Horizon Advisors Inc. now owns 1,204 shares of the building manufacturing company's stock valued at $111,000 after purchasing an additional 484 shares in the last quarter. Breed s Hill Capital LLC purchased a new position in shares of Louisiana-Pacific during the 4th quarter worth $207,000. Finally, Western Wealth Management LLC purchased a new position in shares of Louisiana-Pacific during the 4th quarter worth $207,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Trading Up 0.1%

Shares of NYSE:LPX traded up $0.06 during midday trading on Monday, reaching $99.08. 631,708 shares of the company's stock were exchanged, compared to its average volume of 753,678. The firm's 50 day simple moving average is $92.81 and its two-hundred day simple moving average is $91.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 1.67. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 2.21 and a beta of 1.84. Louisiana-Pacific Corporation has a fifty-two week low of $78.82 and a fifty-two week high of $122.87.

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

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, August 15th. Louisiana-Pacific's payout ratio is currently 26.42%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LPX. Truist Financial reduced their price target on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, July 11th. DA Davidson reduced their price target on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Finally, Wall Street Zen lowered Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $106.13.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 500 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $101.00, for a total transaction of $50,500.00. Following the sale, the director directly owned 29,728 shares in the company, valued at $3,002,528. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lizanne C. Gottung sold 1,179 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total transaction of $105,544.08. Following the sale, the director owned 18,838 shares in the company, valued at $1,686,377.76. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.42% of the stock is owned by corporate insiders.

About Louisiana-Pacific

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.