Louisiana-Pacific Corporation $LPX Stake Trimmed by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon cut its Louisiana-Pacific stake by 30.4% in the first quarter, selling 249,869 shares and ending with 571,740 shares valued at about $41.6 million.
• Several other institutional investors added to or initiated positions in LPX, and 94.73% of the stock is owned by hedge funds and other institutional investors.
• Analyst sentiment remains positive overall: LPX has a Moderate Buy consensus, with a target price of $97.80, while the company also reported better-than-expected quarterly EPS of $0.38.

Bank of New York Mellon Corp lessened its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 30.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 571,740 shares of the building manufacturing company's stock after selling 249,869 shares during the period. Bank of New York Mellon Corp owned about 0.82% of Louisiana-Pacific worth $41,594,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Millennium Management LLC increased its position in shares of 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 acquiring an additional 99,455 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Louisiana-Pacific in the first quarter valued at $273,000. Goldman Sachs Group Inc. lifted its holdings in shares of Louisiana-Pacific by 7.2% in 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 position in shares of Louisiana-Pacific by 207.1% in the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company's stock worth $2,596,000 after buying an additional 19,029 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Louisiana-Pacific by 15.2% in the first 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 worth $20,747,000 after buying an additional 29,846 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on LPX. Bank of America increased their price objective on Louisiana-Pacific from $85.00 to $101.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Oppenheimer lowered their target price on Louisiana-Pacific from $115.00 to $107.00 and set an "outperform" rating on the stock in a research note on Thursday, May 7th. Weiss Ratings upgraded Louisiana-Pacific from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 8th. TD Securities raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating in a research report on Thursday, May 7th. Finally, BMO Capital Markets upgraded shares of Louisiana-Pacific from a "market perform" rating to an "outperform" rating and set a $94.00 price target for the company in a report on Thursday, May 7th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.80.

Louisiana-Pacific Stock Up 3.6%

LPX opened at $74.72 on Friday. Louisiana-Pacific Corporation has a fifty-two week low of $66.12 and a fifty-two week high of $102.86. The business has a 50-day moving average of $74.55 and a 200-day moving average of $78.63. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48. The company has a market capitalization of $5.22 billion, a PE ratio of 63.32, a price-to-earnings-growth ratio of 2.34 and a beta of 1.60.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced 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 return on equity of 7.03% and a net margin of 3.20%.The business had revenue of $574.00 million during the quarter, compared to analysts' expectations of $569.99 million. During the same quarter in the previous year, the business posted $1.27 EPS. The firm's quarterly revenue was down 20.7% compared to the same quarter last year. Equities research analysts forecast that Louisiana-Pacific Corporation will post 1.93 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. Louisiana-Pacific's payout ratio is 101.69%.

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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