Louisiana-Pacific Co. (NYSE:LPX) Sees Significant Decrease in Short Interest

Louisiana-Pacific Co. (NYSE:LPX - Get Free Report) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 1,610,000 shares, a drop of 20.3% from the April 30th total of 2,020,000 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average daily volume of 691,800 shares, the short-interest ratio is presently 2.3 days.

Louisiana-Pacific Stock Up 2.3%

Louisiana-Pacific stock traded up $2.07 during midday trading on Tuesday, reaching $91.28. The stock had a trading volume of 873,797 shares, compared to its average volume of 706,023. The company has a fifty day moving average price of $88.86 and a two-hundred day moving average price of $101.16. Louisiana-Pacific has a 12 month low of $78.82 and a 12 month high of $122.87. The company has a current ratio of 2.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $6.35 billion, a P/E ratio of 15.52, a PEG ratio of 1.24 and a beta of 1.94.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The building manufacturing company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The company had revenue of $724.00 million for the quarter, compared to analysts' expectations of $711.66 million. During the same period in the prior year, the business earned $1.53 earnings per share. Louisiana-Pacific's revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities analysts expect that Louisiana-Pacific will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, May 20th. Louisiana-Pacific's payout ratio is 19.65%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LPX. Loop Capital upgraded Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 target price on the stock in a report on Wednesday, May 7th. Truist Financial reduced their price target on shares of Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada raised their price target on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. TD Securities reduced their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating for the company in a research report on Thursday, February 20th. Finally, BMO Capital Markets increased their price target on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the stock a "market perform" rating in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $107.38.

Hedge Funds Weigh In On Louisiana-Pacific

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio purchased a new stake in Louisiana-Pacific during the first quarter worth $1,439,000. Bayforest Capital Ltd boosted its position in shares of Louisiana-Pacific by 20.0% during the first quarter. Bayforest Capital Ltd now owns 2,591 shares of the building manufacturing company's stock worth $238,000 after buying an additional 431 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 buying an additional 29,846 shares in the last quarter. Empowered Funds LLC increased its position in shares of Louisiana-Pacific by 207.1% in the 1st quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company's stock valued at $2,596,000 after purchasing an additional 19,029 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in Louisiana-Pacific in the first quarter valued at approximately $377,000. 94.73% of the stock is currently owned by institutional investors.

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.