Royal Bank of Canada Raises Stock Position in Louisiana-Pacific Corporation $LPX

Key Points

• Royal Bank of Canada increased its stake in Louisiana-Pacific Corporation by 6.0%, owning 164,391 shares valued at approximately $15.1 million as of the latest SEC filing.
• Hedge funds and institutional investors collectively own 94.73% of Louisiana-Pacific's stock, highlighting significant interest from these entities in the company.
• Louisiana-Pacific recently declared a quarterly dividend of $0.28 per share with a dividend payout ratio of 26.42%, reflecting a yield of 1.2% for investors.

Royal Bank of Canada boosted its position in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,391 shares of the building manufacturing company's stock after acquiring an additional 9,240 shares during the period. Royal Bank of Canada owned 0.24% of Louisiana-Pacific worth $15,121,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its position in Louisiana-Pacific by 252.2% during the first quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company's stock valued at $62,746,000 after purchasing an additional 488,458 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Louisiana-Pacific by 430.3% during the fourth quarter. Point72 Asset Management L.P. now owns 375,900 shares of the building manufacturing company's stock valued at $38,924,000 after purchasing an additional 305,021 shares during the last quarter. Nuveen LLC bought a new stake in Louisiana-Pacific during the first quarter valued at approximately $25,409,000. Invesco Ltd. lifted its position in Louisiana-Pacific by 103.2% during the first quarter. Invesco Ltd. now owns 527,801 shares of the building manufacturing company's stock valued at $48,547,000 after purchasing an additional 268,053 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in Louisiana-Pacific during the fourth quarter valued at approximately $19,039,000. Hedge funds and other institutional investors own 94.73% of the company's stock.

Insider Buying and Selling

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $101.00, for a total transaction of $50,500.00. Following the completion of the sale, the director directly owned 29,728 shares in the company, valued at $3,002,528. This represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.42% of the stock is owned by corporate insiders.

Louisiana-Pacific Trading Down 0.4%

NYSE:LPX opened at $95.33 on Thursday. The company has a fifty day moving average of $93.22 and a 200 day moving average of $91.33. Louisiana-Pacific Corporation has a 52 week low of $78.82 and a 52 week high of $122.87. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $6.64 billion, a P/E ratio of 22.48, a P/E/G ratio of 2.13 and a beta of 1.84.

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

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 15th. Louisiana-Pacific's dividend payout ratio is currently 26.42%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. DA Davidson dropped their target price 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 dropped their target price 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, Wall Street Zen lowered shares of Louisiana-Pacific from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Louisiana-Pacific presently has an average rating of "Hold" and an average price target 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.

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