Schroder Investment Management Group grew its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 4,646.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 821,100 shares of the construction company’s stock after acquiring an additional 803,800 shares during the period. Schroder Investment Management Group’s holdings in Louisiana-Pacific were worth $22,112,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of LPX. Millennium Management LLC grew its position in Louisiana-Pacific by 78.2% in the first quarter. Millennium Management LLC now owns 5,880,551 shares of the construction company’s stock worth $169,183,000 after acquiring an additional 2,581,310 shares in the last quarter. BlackRock Inc. grew its position in Louisiana-Pacific by 6.5% in the second quarter. BlackRock Inc. now owns 18,429,014 shares of the construction company’s stock worth $501,638,000 after acquiring an additional 1,122,642 shares in the last quarter. Acadian Asset Management LLC grew its position in Louisiana-Pacific by 27.8% in the second quarter. Acadian Asset Management LLC now owns 2,860,671 shares of the construction company’s stock worth $77,868,000 after acquiring an additional 623,093 shares in the last quarter. Wells Fargo & Company MN grew its position in Louisiana-Pacific by 51.6% in the second quarter. Wells Fargo & Company MN now owns 1,379,325 shares of the construction company’s stock worth $37,546,000 after acquiring an additional 469,279 shares in the last quarter. Finally, Bank of Nova Scotia bought a new stake in Louisiana-Pacific in the second quarter worth approximately $8,762,000. 92.24% of the stock is owned by institutional investors.
Several analysts have commented on the stock. Zacks Investment Research downgraded shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 10th. ValuEngine downgraded shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, Bank of America raised shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, July 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Louisiana-Pacific currently has an average rating of “Hold” and an average price target of $33.25.
Shares of Louisiana-Pacific stock opened at $28.10 on Tuesday. The company has a quick ratio of 4.57, a current ratio of 5.68 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Co. has a 1-year low of $25.57 and a 1-year high of $32.16. The firm has a market capitalization of $4.03 billion, a PE ratio of 12.06, a PEG ratio of 1.82 and a beta of 1.47.
Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Tuesday, August 7th. The construction company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.10. Louisiana-Pacific had a net margin of 16.85% and a return on equity of 28.21%. The business had revenue of $810.80 million during the quarter, compared to analysts’ expectations of $788.55 million. analysts anticipate that Louisiana-Pacific Co. will post 3.1 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Thursday, August 16th. Louisiana-Pacific’s payout ratio is 22.32%.
Louisiana-Pacific announced that its Board of Directors has authorized a share buyback program on Tuesday, August 7th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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