Legal & General Group Plc Purchases New Position in Louisiana-Pacific Corporation $LPX

Key Points

• Legal & General Group Plc acquired 91,770 Louisiana-Pacific shares worth approximately $7.2 million in the second quarter, giving it a 0.13% stake. Institutional investors collectively own 94.73% of LPX.
• Louisiana-Pacific reported quarterly EPS of $0.40, missing estimates of $0.56, while revenue fell 12.1% year over year to $664 million. Shares opened at $68.39, near their one-year low of $66.12.
• The company paid a quarterly dividend of $0.30 per share, representing a 1.8% yield, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $94.

Legal & General Group Plc acquired a new position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 91,770 shares of the building manufacturing company's stock, valued at approximately $7,219,000. Legal & General Group Plc owned about 0.13% of Louisiana-Pacific as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Western Wealth Management LLC bought a new stake in shares of Louisiana-Pacific in the 1st quarter worth $25,000. North Ridge Wealth Advisors Inc. bought a new position in shares of Louisiana-Pacific during the second quarter valued at $26,000. Parallel Advisors LLC lifted its holdings in shares of Louisiana-Pacific by 204.0% during the first quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company's stock valued at $28,000 after purchasing an additional 255 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Louisiana-Pacific during the fourth quarter valued at $29,000. Finally, Root Financial Partners LLC boosted its position in shares of Louisiana-Pacific by 177.6% during the first quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company's stock valued at $32,000 after buying an additional 277 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Louisiana-Pacific Stock Performance

Shares of LPX opened at $68.39 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.22 and a quick ratio of 1.67. Louisiana-Pacific Corporation has a one year low of $66.12 and a one year high of $101.28. The firm has a market capitalization of $4.78 billion, a P/E ratio of 86.56, a PEG ratio of 9.74 and a beta of 1.59. The business has a fifty day moving average of $74.38 and a 200 day moving average of $75.14.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.16). The firm had revenue of $664.00 million for the quarter, compared to analysts' expectations of $667.31 million. Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The firm's revenue was down 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 EPS. As a group, sell-side analysts anticipate that Louisiana-Pacific Corporation will post 1.17 EPS for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.8%. Louisiana-Pacific's dividend payout ratio is presently 151.90%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Louisiana-Pacific from $66.00 to $74.00 and gave the stock a "sell" rating in a report on Thursday, August 6th. BMO Capital Markets raised shares of Louisiana-Pacific from a "market perform" rating to an "outperform" rating and set a $94.00 price target on the stock in a report on Thursday, May 7th. Oppenheimer reduced their price target on shares of Louisiana-Pacific from $115.00 to $107.00 and set an "outperform" rating for the company in a research note on Thursday, May 7th. Truist Financial decreased their price objective on shares of Louisiana-Pacific from $91.00 to $89.00 and set a "buy" rating for the company in a report on Thursday, August 6th. Finally, TD increased their price objective on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Louisiana-Pacific presently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

Louisiana-Pacific 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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