Strs Ohio Takes Position in Louisiana-Pacific Corporation $LPX

Key Points

• Strs Ohio has invested approximately $1.44 million in Louisiana-Pacific Corporation, acquiring 15,649 shares in the 1st quarter of the year.
• The company has reported a quarterly EPS of $0.99, exceeding the consensus estimate, but its revenue has decreased by 7.2% year-over-year.
• Louisiana-Pacific recently declared a quarterly dividend of $0.28, resulting in an annualized dividend yield of 1.2% for shareholders.

Strs Ohio purchased a new position in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 15,649 shares of the building manufacturing company's stock, valued at approximately $1,439,000.

A number of other institutional investors have also made changes to their positions in the stock. 59 North Capital Management LP raised its stake in shares of Louisiana-Pacific by 32.1% in the 1st quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company's stock valued at $240,863,000 after acquiring an additional 635,817 shares in the last quarter. Eminence Capital LP grew its holdings in shares of Louisiana-Pacific by 16.0% during the 1st quarter. Eminence Capital LP now owns 1,675,943 shares of the building manufacturing company's stock worth $154,153,000 after purchasing an additional 230,837 shares in the last quarter. Palestra Capital Management LLC lifted its position in shares of Louisiana-Pacific by 173.5% during the 1st quarter. Palestra Capital Management LLC now owns 911,621 shares of the building manufacturing company's stock worth $83,851,000 after buying an additional 578,248 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Louisiana-Pacific by 6.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 684,998 shares of the building manufacturing company's stock worth $63,007,000 after buying an additional 38,801 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Louisiana-Pacific by 252.2% in the 1st 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. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LPX. Wall Street Zen cut Louisiana-Pacific from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Truist Financial dropped their target price on Louisiana-Pacific from $111.00 to $108.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Finally, DA Davidson dropped their target price on Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating on the stock in a report on Wednesday, June 25th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $110.57.

Louisiana-Pacific Price Performance

Shares of LPX traded down $2.69 during trading hours on Friday, reaching $88.25. The stock had a trading volume of 1,442,052 shares, compared to its average volume of 739,345. The stock has a market capitalization of $6.15 billion, a PE ratio of 20.81, a PEG ratio of 1.97 and a beta of 1.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 2.84. Louisiana-Pacific Corporation has a 12 month low of $78.82 and a 12 month high of $122.87. The company's 50-day moving average is $93.40 and its two-hundred day moving average is $91.00.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued its 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. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $751.15 million. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The firm's revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 EPS. Research analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Louisiana-Pacific's payout ratio is presently 26.42%.

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 shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the transaction, the director 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.42% of the stock is owned by insiders.

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.