Principal Financial Group Inc. Buys 84,661 Shares of Louisiana-Pacific Corporation $LPX

Key Points

• Principal Financial Group boosted its Louisiana-Pacific stake by 20.5% in the first quarter, buying 84,661 additional shares and bringing its holdings to 497,852 shares worth about $36.2 million.
• Other institutions also increased positions, and institutional ownership now stands at 94.73% of the company’s stock.
• Analysts remain broadly positive on LPX, with an average Moderate Buy rating and a consensus price target of $97.80, while the stock recently traded at $73.92.

Principal Financial Group Inc. increased its stake in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 20.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 497,852 shares of the building manufacturing company's stock after buying an additional 84,661 shares during the period. Principal Financial Group Inc. owned 0.71% of Louisiana-Pacific worth $36,219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in shares of Louisiana-Pacific by 128.6% during the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company's stock worth $16,259,000 after acquiring an additional 99,455 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Louisiana-Pacific in the first quarter valued at approximately $273,000. Goldman Sachs Group Inc. grew its stake in Louisiana-Pacific by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company's stock worth $25,274,000 after purchasing an additional 18,413 shares in the last quarter. Empowered Funds LLC grew its stake in Louisiana-Pacific by 207.1% in the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company's stock worth $2,596,000 after purchasing an additional 19,029 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Louisiana-Pacific by 15.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company's stock worth $20,747,000 after purchasing an additional 29,846 shares during the period. Institutional investors own 94.73% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays lifted their price objective on Louisiana-Pacific from $89.00 to $93.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. BMO Capital Markets raised shares of Louisiana-Pacific from a "market perform" rating to an "outperform" rating and set a $94.00 price target for the company in a research report on Thursday, May 7th. TD Securities upgraded shares of Louisiana-Pacific from a "hold" rating to a "buy" rating in a research note on Thursday, May 7th. Truist Financial cut their price objective on shares of Louisiana-Pacific from $93.00 to $91.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of Louisiana-Pacific in a research note on Tuesday, June 23rd. They issued a "buy" rating and a $93.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Louisiana-Pacific has an average rating of "Moderate Buy" and a consensus price target of $97.80.

Louisiana-Pacific Price Performance

LPX opened at $73.92 on Friday. The business's 50-day moving average is $74.51 and its two-hundred day moving average is $78.96. Louisiana-Pacific Corporation has a 1 year low of $66.12 and a 1 year high of $102.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48. The firm has a market capitalization of $5.16 billion, a PE ratio of 62.64, a price-to-earnings-growth ratio of 2.33 and a beta of 1.60.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The business had revenue of $574.00 million during the quarter, compared to the consensus estimate of $569.99 million. During the same period in the previous year, the company posted $1.27 earnings per share. The firm's revenue was down 20.7% on a year-over-year basis. Research analysts anticipate that Louisiana-Pacific Corporation will post 1.93 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Thursday, May 14th. Louisiana-Pacific's payout ratio is 101.69%.

Louisiana-Pacific Profile

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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