Louisiana-Pacific (NYSE:LPX) sets new 52-week high on strong gains

Louisiana-Pacific Co. (NYSE:LPX – Get Your Free Report ) hit a new 52-week high during mid-day trading on Wednesday after the company reported better-than-expected quarterly earnings . The company traded as high as $101.89 and last traded at $99.07 with a volume of 391561 shares. Shares previously closed at $93.97.

The construction manufacturing company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. Louisiana-Pacific had a net margin of 9.74% and a return on equity of 20.87%. The company had revenue of $814.00 million for the quarter, compared to analyst expectations of $797.26 million. In the same quarter last year, the business earned $0.55 EPS. The company’s revenue was up 33.2% compared to the same quarter last year.

Louisiana-Pacific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.26 per share. This represents an annualized dividend of $1.04 and a dividend yield of 1.09%. The ex-dividend date is Tuesday, August 20. Louisiana-Pacific’s payout rate is currently 28.57%.

Analyst upgrades and downgrades

LPX has been the subject of several research analyst reports. Goldman Sachs Group upped their price target on shares of Louisiana-Pacific from $78.00 to $86.00 and gave the company a “sell” rating in a research note on Thursday. Seaport Res Ptn lowered Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. TD Securities boosted their price target on Louisiana-Pacific from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. BMO Capital Markets downgraded Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 price objective on the stock. in a research note on Thursday. Finally, Royal Bank of Canada upped their target price on Louisiana-Pacific from $101.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $94.88, according to MarketBeat.

See the latest stock report on LPX

Domestic transactions at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 3,591 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $89.18, for a total value of $320,245.38. Following the sale, the director now directly owns 23,501 shares of the company’s stock, valued at approximately $2,095,819.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Company insiders own 1.26% of the company’s shares.

Louisiana-Pacific Institutional Trading

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Louisiana-Pacific by 48,193.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 162,267 shares of the construction manufacturing company’s stock worth $13,616,000 after purchasing an additional 161,931 shares during the period. Russell Investments Group Ltd. grew its holdings in Louisiana-Pacific by 3.5% in the first quarter. Russell Investments Group Ltd. now owns 215,051 shares of the building materials company’s stock worth $18,045,000 after purchasing an additional 7,367 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Louisiana-Pacific by 83.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,563,117 shares of the construction manufacturing company’s stock valued at $110,717,000 after buying an additional 712,671 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in shares of Louisiana-Pacific by 16.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,648 shares of the construction manufacturing company’s stock valued at $3,914,000 after buying an additional 6,533 shares during the last quarter. Finally, Duality Advisers LP lifted its position in shares of Louisiana-Pacific by 84.5% in the 4th quarter. Duality Advisers LP now owns 25,638 shares of the construction manufacturing company’s stock worth $1,816,000 after purchasing an additional 11,740 shares during the period. 94.73% of shares are currently owned by institutional investors.

Louisiana-Pacific trading up 0.9%

The stock has a market cap of $6.87 billion, a P/E ratio of 26.32, a P/E/G ratio of 13.92 and a beta of 1.89. The stock’s 50-day moving average price is $89.23 and its 200-day moving average price is $81.13. The company has a quick ratio of 1.75, a current ratio of 3.32, and a debt-to-equity ratio of 0.21.

Louisiana-Pacific Company Profile

(Get a free report)

Louisiana-Pacific Corporation, together with its subsidiaries, provides construction solutions primarily for use in the new home construction, repair and remodeling, and exterior 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 siding products and LP Outdoor Building Solutions; and wood siding, trim, soffit and fascia products.

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