Louisiana-Pacific Co. to Issue Quarterly Dividend of $0.13 (LPX)

Louisiana-Pacific Co. (NYSE:LPX) declared a quarterly dividend on Friday, November 2nd, RTT News reports. Investors of record on Friday, November 16th will be paid a dividend of 0.13 per share by the construction company on Friday, November 30th. This represents a $0.52 dividend on an annualized basis and a yield of 2.24%.

Shares of Louisiana-Pacific stock opened at $23.22 on Friday. The stock has a market capitalization of $3.11 billion, a P/E ratio of 6.93, a P/E/G ratio of 1.56 and a beta of 1.61. Louisiana-Pacific has a twelve month low of $20.89 and a twelve month high of $32.16. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.57 and a current ratio of 5.68.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Tuesday, August 7th. The construction company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.10. The firm had revenue of $810.80 million for the quarter, compared to analyst estimates of $788.55 million. Louisiana-Pacific had a net margin of 16.85% and a return on equity of 28.21%. Sell-side analysts forecast that Louisiana-Pacific will post 2.79 EPS for the current year.

Louisiana-Pacific declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 7th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 3.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In other news, EVP Neil Sherman sold 7,430 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $31.74, for a total transaction of $235,828.20. Following the completion of the sale, the executive vice president now owns 51,708 shares in the company, valued at approximately $1,641,211.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Bradley Southern sold 12,042 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $31.00, for a total transaction of $373,302.00. Following the sale, the chief executive officer now owns 196,518 shares of the company’s stock, valued at approximately $6,092,058. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,287 shares of company stock valued at $1,180,736. 1.48% of the stock is owned by insiders.

A number of brokerages recently weighed in on LPX. Zacks Investment Research downgraded shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a report on Friday, August 10th. Bank of America upgraded shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Monday, July 16th. ValuEngine downgraded shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. Longbow Research reiterated a “hold” rating on shares of Louisiana-Pacific in a report on Tuesday, October 9th. Finally, Seaport Global Securities initiated coverage on shares of Louisiana-Pacific in a report on Tuesday, October 23rd. They issued a “buy” rating and a $31.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $32.13.

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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