Fifth Third Bancorp Acquires 26,186 Shares of Louisiana-Pacific Corporation $LPX

Key Points

• Fifth Third Bancorp sharply increased its stake in Louisiana-Pacific, boosting holdings by 749.2% in Q1 to 29,681 shares valued at about $2.16 million.
• Louisiana-Pacific reported quarterly EPS of $0.38, easily beating estimates, while revenue came in slightly above expectations at $574 million even though it fell 20.7% from a year earlier.
• The company paid a quarterly dividend of $0.30 per share and has drawn mostly bullish analyst sentiment, with a consensus rating of Moderate Buy and a consensus price target of $97.80.

Fifth Third Bancorp increased its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 749.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,681 shares of the building manufacturing company's stock after acquiring an additional 26,186 shares during the period. Fifth Third Bancorp's holdings in Louisiana-Pacific were worth $2,159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Millennium Management LLC raised its position in Louisiana-Pacific by 128.6% in the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company's stock worth $16,259,000 after purchasing an additional 99,455 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Louisiana-Pacific during the first quarter worth about $273,000. Goldman Sachs Group Inc. boosted its holdings in Louisiana-Pacific by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company's stock valued at $25,274,000 after purchasing an additional 18,413 shares in the last quarter. Empowered Funds LLC boosted its holdings in Louisiana-Pacific by 207.1% during the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company's stock valued at $2,596,000 after purchasing an additional 19,029 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Louisiana-Pacific by 15.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company's stock valued at $20,747,000 after purchasing an additional 29,846 shares during the period. Institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Price Performance

Shares of LPX stock opened at $70.12 on Wednesday. Louisiana-Pacific Corporation has a 52 week low of $66.12 and a 52 week high of $102.86. The stock has a market capitalization of $4.90 billion, a PE ratio of 59.43, a PEG ratio of 2.25 and a beta of 1.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.48 and a current ratio of 3.26. The stock's fifty day moving average is $74.44 and its 200-day moving average is $78.79.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The business had revenue of $574.00 million for the quarter, compared to analysts' expectations of $569.99 million. During the same period in the prior year, the firm earned $1.27 earnings per share. Louisiana-Pacific's revenue was down 20.7% compared to the same quarter last year. Equities research analysts expect that Louisiana-Pacific Corporation will post 1.93 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. Louisiana-Pacific's dividend payout ratio is presently 101.69%.

Wall Street Analyst Weigh In

LPX has been the subject of a number of recent research reports. Jefferies Financial Group assumed coverage on Louisiana-Pacific in a report on Tuesday, June 23rd. They issued a "buy" rating and a $93.00 target price for the company. Weiss Ratings raised Louisiana-Pacific from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, May 8th. TD increased their price objective on Louisiana-Pacific from $86.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Barclays boosted their target price on shares of Louisiana-Pacific from $89.00 to $93.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Finally, Oppenheimer dropped their target price on shares of Louisiana-Pacific from $115.00 to $107.00 and set an "outperform" rating for the company in a research report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.80.

Louisiana-Pacific Company Profile

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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