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

Other hedge funds also recently bought and sold shares of the company. Allianz Asset Management GmbH increased its position in shares of 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 worth $62,746,000 after acquiring an additional 488,458 shares during the period. Point72 Asset Management L.P. grew its stake in Louisiana-Pacific by 430.3% in the fourth quarter. Point72 Asset Management L.P. now owns 375,900 shares of the building manufacturing company's stock worth $38,924,000 after purchasing an additional 305,021 shares in the last quarter. Nuveen LLC purchased a new position in Louisiana-Pacific during the 1st quarter worth $25,409,000. Invesco Ltd. increased its holdings in Louisiana-Pacific by 103.2% during the 1st quarter. Invesco Ltd. now owns 527,801 shares of the building manufacturing company's stock worth $48,547,000 after purchasing an additional 268,053 shares during the period. Finally, Woodline Partners LP bought a new stake in Louisiana-Pacific during the 4th quarter valued at $19,039,000. Institutional investors own 94.73% of the company's stock.

Insider Transactions at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 500 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $101.00, for a total transaction of $50,500.00. Following the transaction, the director directly owned 29,728 shares of the company's stock, valued at approximately $3,002,528. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.42% of the company's stock.

Louisiana-Pacific Stock Down 1.0%

LPX stock traded down $0.97 during trading on Tuesday, reaching $94.00. 512,129 shares of the company traded hands, compared to its average volume of 743,822. The business has a 50 day simple moving average of $93.62 and a 200 day simple moving average of $91.16. 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 0.20, a quick ratio of 1.67 and a current ratio of 2.84. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 2.12 and a beta of 1.84.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. The business 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 firm posted $2.09 earnings per share. The company's quarterly revenue was down 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 15th. Louisiana-Pacific's dividend payout ratio (DPR) is 26.42%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LPX. DA Davidson dropped their price target on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock 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 on the stock in a 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 investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $110.57.

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.