Pictet Asset Management Holding SA Reduces Stake in Louisiana-Pacific Corporation $LPX

Key Points

• Pictet Asset Management cut its Louisiana-Pacific stake by 7.5% in the first quarter, selling 29,562 shares and ending with 366,781 shares valued at about $26.7 million.
• Analyst sentiment on LPX remains generally positive, with 10 Buy ratings and 2 Hold ratings; the consensus target price is $96.78, above the recent share price of $78.75.
• Louisiana-Pacific recently beat earnings expectations, reporting EPS of $0.38 versus the $0.14 estimate, while revenue came in at $574 million and the company paid a quarterly dividend of $0.30 per share.

Pictet Asset Management Holding SA reduced its holdings in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 366,781 shares of the building manufacturing company's stock after selling 29,562 shares during the quarter. Pictet Asset Management Holding SA owned about 0.53% of Louisiana-Pacific worth $26,683,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Elo Mutual Pension Insurance Co lifted its stake in Louisiana-Pacific by 1.5% in the third quarter. Elo Mutual Pension Insurance Co now owns 11,524 shares of the building manufacturing company's stock worth $1,024,000 after acquiring an additional 166 shares during the period. WINTON GROUP Ltd boosted its holdings in Louisiana-Pacific by 2.7% in the third quarter. WINTON GROUP Ltd now owns 6,877 shares of the building manufacturing company's stock valued at $611,000 after acquiring an additional 183 shares in the last quarter. Tidal Investments LLC increased its position in Louisiana-Pacific by 1.2% during the 2nd quarter. Tidal Investments LLC now owns 21,339 shares of the building manufacturing company's stock valued at $1,835,000 after purchasing an additional 247 shares during the period. Wealthspire Advisors LLC raised its holdings in Louisiana-Pacific by 4.1% in the 4th quarter. Wealthspire Advisors LLC now owns 6,465 shares of the building manufacturing company's stock worth $522,000 after purchasing an additional 256 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Louisiana-Pacific by 3.1% in the 2nd quarter. Sei Investments Co. now owns 8,584 shares of the building manufacturing company's stock worth $738,000 after purchasing an additional 257 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LPX has been the topic of a number of research reports. Barclays cut their target price on shares of Louisiana-Pacific from $90.00 to $89.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Zacks Research raised Louisiana-Pacific from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 6th. Truist Financial reiterated a "buy" rating and set a $93.00 target price (down from $95.00) on shares of Louisiana-Pacific in a report on Friday, May 8th. BMO Capital Markets raised Louisiana-Pacific from a "market perform" rating to an "outperform" rating and set a $94.00 target price for the company in a research report on Thursday, May 7th. Finally, Jefferies Financial Group assumed coverage on Louisiana-Pacific in a research note on Tuesday, June 23rd. They issued a "buy" rating and a $93.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $96.78.

Louisiana-Pacific Price Performance

Shares of LPX opened at $78.75 on Thursday. The stock has a market cap of $5.50 billion, a PE ratio of 66.74, a price-to-earnings-growth ratio of 1.98 and a beta of 1.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.48 and a current ratio of 3.26. Louisiana-Pacific Corporation has a fifty-two week low of $66.12 and a fifty-two week high of $102.86. The firm's 50-day simple moving average is $74.17 and its two-hundred day simple moving average is $79.65.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The firm had revenue of $574.00 million during the quarter, compared to analyst estimates of $569.99 million. During the same period last year, the business earned $1.27 earnings per share. The business's revenue was down 20.7% on a year-over-year basis. Analysts anticipate that Louisiana-Pacific Corporation will post 2 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, May 14th. Louisiana-Pacific's dividend payout ratio (DPR) is 101.69%.

About Louisiana-Pacific

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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