Shares of Louisiana-Pacific Co. (NYSE:LPX - Get Free Report) traded up 4.8% on Tuesday following a stronger than expected earnings report. The company traded as high as $91.49 and last traded at $91.73. 159,837 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 734,486 shares. The stock had previously closed at $87.53.
The building manufacturing company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. The firm had revenue of $724.00 million for the quarter, compared to analyst estimates of $711.66 million. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. Louisiana-Pacific's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 earnings per share.
Louisiana-Pacific Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, May 20th. Louisiana-Pacific's dividend payout ratio (DPR) is 19.65%.
Analyst Ratings Changes
LPX has been the subject of a number of analyst reports. Loop Capital raised shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Wednesday. DA Davidson reduced their price objective on Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada raised their target price on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research report on Wednesday. Truist Financial reduced their price target on Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Finally, BMO Capital Markets raised their price target on Louisiana-Pacific from $105.00 to $108.00 and gave the company a "market perform" rating in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $107.38.
Get Our Latest Stock Analysis on Louisiana-Pacific
Institutional Investors Weigh In On Louisiana-Pacific
Several hedge funds and other institutional investors have recently bought and sold shares of the business. UMB Bank n.a. lifted its stake in Louisiana-Pacific by 98.8% during the fourth quarter. UMB Bank n.a. now owns 318 shares of the building manufacturing company's stock valued at $33,000 after purchasing an additional 158 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Louisiana-Pacific during the 4th quarter valued at $35,000. Harbor Capital Advisors Inc. boosted its stake in shares of Louisiana-Pacific by 65.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 589 shares of the building manufacturing company's stock worth $61,000 after acquiring an additional 232 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Louisiana-Pacific by 56.2% in the 4th quarter. First Horizon Advisors Inc. now owns 720 shares of the building manufacturing company's stock worth $75,000 after acquiring an additional 259 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Louisiana-Pacific by 41.5% during the first quarter. Fifth Third Bancorp now owns 1,040 shares of the building manufacturing company's stock worth $96,000 after purchasing an additional 305 shares during the period. 94.73% of the stock is currently owned by institutional investors.
Louisiana-Pacific Stock Up 0.3 %
The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.24 and a beta of 1.94. The business has a 50-day moving average price of $88.99 and a 200-day moving average price of $102.69.
About Louisiana-Pacific
(
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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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