Mackenzie Financial Corp Acquires 33,833 Shares of Louisiana-Pacific Corporation (NYSE:LPX)

Key Points

• Mackenzie Financial Corp increased its stake in Louisiana-Pacific Corporation by 331.7% during the first quarter, owning 44,034 shares valued at about $4 million.
• Alyeska Investment Group L.P. and Point72 Asset Management L.P. significantly expanded their positions in Louisiana-Pacific, with increases of 1,736.2% and 430.3%, respectively, highlighting strong interest among hedge funds.
• Equity analysts have a consensus rating of "Hold" for Louisiana-Pacific, with a revised price target range from $106.13 to $117.00 across various reports, indicating mixed sentiment in the market.

Mackenzie Financial Corp raised its position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 331.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,034 shares of the building manufacturing company's stock after purchasing an additional 33,833 shares during the period. Mackenzie Financial Corp owned 0.06% of Louisiana-Pacific worth $4,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Coldstream Capital Management Inc. grew its position in shares of Louisiana-Pacific by 2.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,700 shares of the building manufacturing company's stock valued at $383,000 after purchasing an additional 95 shares in the last quarter. CWM LLC grew its position in shares of Louisiana-Pacific by 4.1% during the 1st quarter. CWM LLC now owns 2,919 shares of the building manufacturing company's stock valued at $268,000 after purchasing an additional 115 shares in the last quarter. Xponance Inc. grew its position in shares of Louisiana-Pacific by 1.1% during the 1st quarter. Xponance Inc. now owns 11,370 shares of the building manufacturing company's stock valued at $1,046,000 after purchasing an additional 127 shares in the last quarter. Kingswood Wealth Advisors LLC grew its position in shares of Louisiana-Pacific by 3.1% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 4,658 shares of the building manufacturing company's stock valued at $425,000 after purchasing an additional 140 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC grew its position in shares of Louisiana-Pacific by 7.3% during the 1st quarter. Capital Advisory Group Advisory Services LLC now owns 2,543 shares of the building manufacturing company's stock valued at $234,000 after purchasing an additional 173 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Trading Down 3.5%

Shares of LPX stock traded down $3.36 during mid-day trading on Wednesday, reaching $91.61. The stock had a trading volume of 1,431,143 shares, compared to its average volume of 724,054. The stock's 50-day moving average price is $89.71 and its two-hundred day moving average price is $94.32. Louisiana-Pacific Corporation has a 52-week low of $78.82 and a 52-week high of $122.87. The firm has a market capitalization of $6.37 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.57 and a beta of 1.80. The company has a current ratio of 3.03, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.09). Louisiana-Pacific had a net margin of 13.74% and a return on equity of 23.75%. During the same quarter in the previous year, the firm posted $2.09 earnings per share. The firm's revenue was down 7.2% on a year-over-year basis. Equities analysts expect that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.28 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.12 annualized dividend and a yield of 1.2%. Louisiana-Pacific's dividend payout ratio (DPR) is 19.65%.

Insider Buying and Selling

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 1,179 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total value of $105,544.08. Following the completion of the sale, the director directly owned 18,838 shares in the company, valued at $1,686,377.76. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.42% of the stock is owned by company insiders.

Analyst Ratings Changes

LPX has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their price objective on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a report on Wednesday, May 7th. Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday. DA Davidson decreased their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. Finally, Truist Financial decreased their target price on shares of Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $106.13.

About Louisiana-Pacific

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.