Prudential PLC Grows Stake in Louisiana-Pacific Corporation (NYSE:LPX)

Key Points

• Prudential PLC increased its stake in Louisiana-Pacific Corporation by 27.2%, owning 44,829 shares valued at approximately $4.1 million as of the latest SEC filing.
• The company reported $0.99 earnings per share for the last quarter, surpassing analysts' estimates of $0.97, despite a 7.2% year-over-year revenue decline.
• Louisiana-Pacific has announced a quarterly dividend of $0.28, which represents a yield of 1.1% and is scheduled to be paid on August 29th.

Prudential PLC increased its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 27.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,829 shares of the building manufacturing company's stock after buying an additional 9,581 shares during the period. Prudential PLC owned 0.06% of Louisiana-Pacific worth $4,123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LPX. CCM Investment Group LLC bought a new stake in shares of Louisiana-Pacific during the first quarter valued at approximately $633,000. Nuveen LLC acquired a new stake in Louisiana-Pacific in the 1st quarter valued at $25,409,000. Invesco Ltd. increased its stake in Louisiana-Pacific by 103.2% during the 1st quarter. Invesco Ltd. now owns 527,801 shares of the building manufacturing company's stock valued at $48,547,000 after purchasing an additional 268,053 shares in the last quarter. Sierra Summit Advisors LLC acquired a new position in Louisiana-Pacific during the first quarter worth $511,000. Finally, Cynosure Group LLC lifted its stake in shares of Louisiana-Pacific by 23.1% in the first quarter. Cynosure Group LLC now owns 3,569 shares of the building manufacturing company's stock valued at $328,000 after buying an additional 669 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LPX has been the topic of a number of recent analyst reports. DA Davidson lowered their target price 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 reduced their target price on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Royal Bank Of Canada increased their price objective on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Loop Capital upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Louisiana-Pacific has an average rating of "Hold" and a consensus price target of $106.13.

Insiders Place Their Bets

In related news, Director Ozey K. Horton, Jr. sold 500 shares of Louisiana-Pacific stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $101.00, for a total transaction of $50,500.00. Following the completion of the transaction, the director directly owned 29,728 shares of the company's stock, valued at $3,002,528. This trade represents a 1.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lizanne C. Gottung sold 1,179 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total transaction of $105,544.08. Following the completion of the sale, the director owned 18,838 shares in the company, valued at approximately $1,686,377.76. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.42% of the company's stock.

Louisiana-Pacific Price Performance

Shares of LPX stock traded down $0.88 during trading hours on Friday, hitting $99.49. 809,262 shares of the company's stock were exchanged, compared to its average volume of 835,688. The company has a market capitalization of $6.93 billion, a PE ratio of 23.46, a PEG ratio of 2.22 and a beta of 1.80. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Corporation has a 12-month low of $78.82 and a 12-month high of $122.87. The business's 50 day simple moving average is $90.46 and its 200-day simple moving average is $93.21.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The business had revenue of $755.00 million during the quarter, compared to the consensus estimate of $751.15 million. During the same period in the previous year, the firm posted $2.09 earnings per share. The firm's revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, August 15th. Louisiana-Pacific's payout ratio is 26.42%.

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.