The Manufacturers Life Insurance Company Takes Position in Louisiana-Pacific Corporation $LPX

Key Points

• The Manufacturers Life Insurance Company acquired 45,478 shares of Louisiana-Pacific, worth approximately $3.6 million, while institutional investors collectively own 94.73% of LPX.
• Louisiana-Pacific reported weak quarterly results, with earnings per share of $0.40 versus the $0.56 consensus estimate and revenue down 12.1% year over year to $664 million.
• LPX pays a quarterly dividend of $0.30 per share, representing a 1.7% yield, while analysts maintain a “Moderate Buy” consensus and an average price target of $94.

The Manufacturers Life Insurance Company acquired a new position in Louisiana-Pacific Corporation (NYSE:LPX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 45,478 shares of the building manufacturing company's stock, valued at approximately $3,577,000. The Manufacturers Life Insurance Company owned 0.07% of Louisiana-Pacific at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LPX. BlackRock Inc. bought a new position in Louisiana-Pacific during the 2nd quarter worth approximately $506,638,000. Eminence Capital LP lifted its position in Louisiana-Pacific by 29.9% in the fourth quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company's stock valued at $326,927,000 after purchasing an additional 932,177 shares during the last quarter. 59 North Capital Management LP lifted its position in Louisiana-Pacific by 26.3% in the fourth quarter. 59 North Capital Management LP now owns 3,536,884 shares of the building manufacturing company's stock valued at $285,639,000 after purchasing an additional 737,406 shares during the last quarter. State Street Corp boosted its stake in shares of Louisiana-Pacific by 1.3% during the fourth quarter. State Street Corp now owns 2,171,315 shares of the building manufacturing company's stock valued at $175,355,000 after purchasing an additional 27,710 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Louisiana-Pacific by 23.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,723,824 shares of the building manufacturing company's stock valued at $139,218,000 after purchasing an additional 332,794 shares during the period. Institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Price Performance

LPX stock opened at $68.82 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.22 and a quick ratio of 1.67. Louisiana-Pacific Corporation has a 1 year low of $66.12 and a 1 year high of $101.28. The firm has a 50-day moving average of $74.60 and a 200 day moving average of $75.32. The company has a market cap of $4.81 billion, a P/E ratio of 87.12, a PEG ratio of 9.98 and a beta of 1.59.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.16). Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The firm had revenue of $664.00 million for the quarter, compared to the consensus estimate of $667.31 million. During the same period in the previous year, the firm posted $0.99 earnings per share. The business's revenue was down 12.1% compared to the same quarter last year. On average, sell-side analysts forecast that Louisiana-Pacific Corporation will post 1.17 EPS for the current year.

Louisiana-Pacific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.30 per share. The ex-dividend date was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Louisiana-Pacific's payout ratio is currently 151.90%.

Analyst Ratings Changes

Several research analysts recently commented on LPX shares. TD lifted their target price on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Jefferies Financial Group assumed coverage on Louisiana-Pacific in a report on Tuesday, June 23rd. They issued a "buy" rating and a $93.00 price objective for the company. Bank of America lifted their price objective on Louisiana-Pacific from $85.00 to $101.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Oppenheimer reduced their target price on Louisiana-Pacific from $115.00 to $107.00 and set an "outperform" rating on the stock in a research note on Thursday, May 7th. Finally, Weiss Ratings lowered Louisiana-Pacific from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 19th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

Louisiana-Pacific Company 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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