Eminence Capital LP Acquires 230,837 Shares of 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 grew its position in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 16.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,675,943 shares of the building manufacturing company's stock after buying an additional 230,837 shares during the period. Louisiana-Pacific accounts for 2.6% of Eminence Capital LP's investment portfolio, making the stock its 19th largest position. Eminence Capital LP owned about 2.41% of Louisiana-Pacific worth $154,153,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in shares of Louisiana-Pacific by 20.3% during the 1st quarter. AQR Capital Management LLC now owns 360,162 shares of the building manufacturing company's stock valued at $32,631,000 after purchasing an additional 60,832 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Louisiana-Pacific by 2.2% during the 1st quarter. Advisors Asset Management Inc. now owns 7,962 shares of the building manufacturing company's stock valued at $732,000 after purchasing an additional 170 shares during the period. 59 North Capital Management LP raised its stake in shares of Louisiana-Pacific by 32.1% during the 1st quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company's stock valued at $240,863,000 after purchasing an additional 635,817 shares during the period. Royal Bank of Canada raised its stake in shares of Louisiana-Pacific by 6.0% during the 1st quarter. Royal Bank of Canada now owns 164,391 shares of the building manufacturing company's stock valued at $15,121,000 after purchasing an additional 9,240 shares during the period. Finally, Vident Advisory LLC raised its stake in shares of Louisiana-Pacific by 35.4% during the 1st quarter. Vident Advisory LLC now owns 2,783 shares of the building manufacturing company's stock valued at $256,000 after purchasing an additional 727 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock traded down $3.17 during trading on Tuesday, hitting $96.11. 216,499 shares of the stock traded hands, compared to its average volume of 750,496. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 2.21 and a beta of 1.84. The firm's fifty day moving average is $93.07 and its 200-day moving average is $91.27. Louisiana-Pacific Corporation has a 52 week low of $78.82 and a 52 week high of $122.87.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $751.15 million. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The company's revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. Research analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.2%. The ex-dividend date 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 firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $101.00, for a total transaction of $50,500.00. Following the transaction, the director directly owned 29,728 shares in the company, valued at $3,002,528. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lizanne C. Gottung sold 1,179 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total value of $105,544.08. Following the transaction, the director owned 18,838 shares in the company, valued at approximately $1,686,377.76. The trade was 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 company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. DA Davidson decreased their price objective on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Truist Financial decreased their price objective on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Finally, Wall Street Zen lowered Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Four 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. Based on data from MarketBeat.com, Louisiana-Pacific currently has a consensus rating of "Hold" and a consensus price target of $106.13.

Louisiana-Pacific Company 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.