Leith Wheeler Investment Counsel Ltd. Raises Position in Louisiana-Pacific Corporation $LPX

Key Points

• Leith Wheeler Investment Counsel increased its Louisiana-Pacific stake by 23.1% in the first quarter, buying 18,577 more shares and bringing its total to 99,064 shares valued at about $7.2 million.
• Louisiana-Pacific’s latest quarterly earnings beat expectations, reporting $0.38 EPS versus the $0.14 estimate, even as revenue fell 20.7% year over year to $574 million.
• Wall Street sentiment remains broadly positive, with 11 Buy ratings out of 13 total analyst ratings and a consensus price target of $97.80, well above the stock’s recent trading level around $71.37.

Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 23.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,064 shares of the building manufacturing company's stock after acquiring an additional 18,577 shares during the quarter. Leith Wheeler Investment Counsel Ltd. owned 0.14% of Louisiana-Pacific worth $7,207,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. acquired a new position in Louisiana-Pacific during the 2nd quarter worth approximately $26,000. Parallel Advisors LLC lifted its holdings in shares of Louisiana-Pacific by 204.0% in the 1st quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company's stock valued at $28,000 after buying an additional 255 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Louisiana-Pacific in the 4th quarter valued at approximately $29,000. Root Financial Partners LLC boosted its stake in shares of Louisiana-Pacific by 177.6% in 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 in the last quarter. Finally, Whittier Trust Co. boosted its stake in shares of Louisiana-Pacific by 138.1% in the first quarter. Whittier Trust Co. now owns 500 shares of the building manufacturing company's stock valued at $36,000 after buying an additional 290 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LPX. Weiss Ratings upgraded shares of Louisiana-Pacific from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, May 8th. BMO Capital Markets raised Louisiana-Pacific from a "market perform" rating to an "outperform" rating and set a $94.00 price objective for the company in a report on Thursday, May 7th. Oppenheimer dropped their price target on Louisiana-Pacific from $115.00 to $107.00 and set an "outperform" rating for the company in a research report on Thursday, May 7th. DA Davidson reiterated a "buy" rating and issued a $114.00 price objective on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. 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 note on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Louisiana-Pacific presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.80.

Louisiana-Pacific Price Performance

LPX stock opened at $71.37 on Tuesday. The stock's 50 day moving average price is $74.47 and its 200 day moving average price is $78.86. The firm has a market cap of $4.99 billion, a P/E ratio of 60.48, a PEG ratio of 2.33 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. Louisiana-Pacific Corporation has a 1 year low of $66.12 and a 1 year high of $102.86.

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

Louisiana-Pacific Announces Dividend

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

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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