Mackenzie Financial Corp Increases Position in 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 grew 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 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,034 shares of the building manufacturing company's stock after buying an additional 33,833 shares during the period. Mackenzie Financial Corp owned 0.06% of Louisiana-Pacific worth $4,050,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Louisiana-Pacific by 18.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 136,939 shares of the building manufacturing company's stock valued at $12,486,000 after buying an additional 21,462 shares during the period. Putney Financial Group LLC purchased a new stake in shares of Louisiana-Pacific in the 4th quarter valued at approximately $389,000. QRG Capital Management Inc. purchased a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $1,379,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Louisiana-Pacific in the 1st quarter valued at approximately $317,000. Finally, Icon Advisers Inc. Co. purchased a new stake in shares of Louisiana-Pacific in the 4th quarter valued at approximately $2,040,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

LPX has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research report on Sunday. 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 research report on Wednesday, May 7th. DA Davidson lowered their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Truist Financial lowered their price objective 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. Finally, Royal Bank Of Canada increased their target price 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. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Louisiana-Pacific has an average rating of "Hold" and a consensus target price of $106.13.

Insider Transactions at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 1,179 shares of Louisiana-Pacific 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 sale, the director owned 18,838 shares of the company's stock, valued at $1,686,377.76. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.42% of the company's stock.

Louisiana-Pacific Stock Up 1.5%

Shares of Louisiana-Pacific stock traded up $1.39 during trading on Monday, hitting $91.87. 809,533 shares of the stock were exchanged, compared to its average volume of 590,549. The firm's 50-day moving average price is $89.71 and its 200 day moving average price is $94.47. Louisiana-Pacific Corporation has a 12-month low of $78.82 and a 12-month high of $122.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.03 and a quick ratio of 1.59. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.80.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The building manufacturing company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.13 by $0.14. The firm had revenue of $724.00 million for the quarter, compared to analyst estimates of $711.66 million. Louisiana-Pacific had a net margin of 13.74% and a return on equity of 23.75%. Louisiana-Pacific's revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the business earned $1.53 EPS. As a group, analysts forecast that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

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

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.