Louisiana-Pacific Corporation (NYSE:LPX) Shares Acquired by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Louisiana-Pacific Corporation by 111.3% in Q1, owning 18,287 shares worth $1,682,000 after purchasing an additional 9,631 shares.
• Louisiana-Pacific's stock experienced a 7.2% decline in revenue compared to the same quarter last year, reporting $755 million in revenue and $0.99 earnings per share.
• The company announced a quarterly dividend of $0.28 per share, with a dividend yield of 1.2% for investors of record as of August 15th.

Ontario Teachers Pension Plan Board boosted its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 111.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,287 shares of the building manufacturing company's stock after purchasing an additional 9,631 shares during the period. Ontario Teachers Pension Plan Board's holdings in Louisiana-Pacific were worth $1,682,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LPX. UMB Bank n.a. raised its position in Louisiana-Pacific by 76.1% during the first quarter. UMB Bank n.a. now owns 560 shares of the building manufacturing company's stock valued at $52,000 after acquiring an additional 242 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Louisiana-Pacific by 41.5% in the 1st quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock valued at $96,000 after purchasing an additional 305 shares during the period. GeoWealth Management LLC lifted its stake in shares of Louisiana-Pacific by 1,184.9% in the 4th quarter. GeoWealth Management LLC now owns 938 shares of the building manufacturing company's stock valued at $97,000 after purchasing an additional 865 shares during the period. Covestor Ltd boosted its holdings in Louisiana-Pacific by 142.6% during the fourth quarter. Covestor Ltd now owns 1,043 shares of the building manufacturing company's stock worth $108,000 after buying an additional 613 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Louisiana-Pacific by 67.2% in the first quarter. First Horizon Advisors Inc. now owns 1,204 shares of the building manufacturing company's stock valued at $111,000 after buying an additional 484 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Insider Activity

In other news, Director Lizanne C. Gottung sold 1,179 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total transaction of $105,544.08. Following the transaction, the director owned 18,838 shares of the company's stock, valued at approximately $1,686,377.76. The trade was a 5.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.42% of the stock is owned by company insiders.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock traded down $1.83 during trading hours on Friday, reaching $90.71. 646,093 shares of the company's stock were exchanged, compared to its average volume of 720,208. The business has a fifty day moving average of $89.83 and a two-hundred day moving average of $93.81. The company has a market capitalization of $6.32 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.59 and a beta of 1.80. The company has a quick ratio of 1.59, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Corporation has a 1 year low of $78.82 and a 1 year high of $122.87.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. The company had revenue of $755.00 million during the quarter, compared to analysts' expectations of $751.15 million. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. Louisiana-Pacific's revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 EPS. As a group, research analysts predict that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently announced 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. This represents a $1.12 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 15th. Louisiana-Pacific's dividend payout ratio is presently 26.42%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LPX. 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 report on Wednesday, May 7th. DA Davidson dropped their price objective on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Royal Bank Of Canada boosted their price objective on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Truist Financial decreased their target price on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a research report on Friday, July 11th. Finally, Wall Street Zen cut shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Three equities research 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 MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $106.13.

Louisiana-Pacific 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.