Shares of Louisiana-Pacific Co. (NYSE:LPX) gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $31.38, but opened at $30.45. Louisiana-Pacific shares last traded at $30.21, with a volume of 1164152 shares trading hands.
The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.15. The firm had revenue of $710.60 million during the quarter, compared to the consensus estimate of $654.26 million. Louisiana-Pacific had a net margin of 11.72% and a return on equity of 20.27%. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Monday, February 26th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, February 23rd.
Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Louisiana-Pacific by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,412,507 shares of the construction company’s stock worth $92,410,000 after acquiring an additional 375,243 shares during the period. NJ State Employees Deferred Compensation Plan bought a new stake in shares of Louisiana-Pacific during the 3rd quarter worth approximately $271,000. Macquarie Group Ltd. bought a new stake in shares of Louisiana-Pacific during the 3rd quarter worth approximately $265,000. Vident Investment Advisory LLC bought a new stake in shares of Louisiana-Pacific during the 3rd quarter worth approximately $2,760,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Louisiana-Pacific by 117.3% during the 4th quarter. Acadian Asset Management LLC now owns 1,775,627 shares of the construction company’s stock worth $46,625,000 after acquiring an additional 958,649 shares during the period. 92.31% of the stock is owned by institutional investors.
The company has a quick ratio of 4.31, a current ratio of 5.25 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $4,360.00, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 2.74 and a beta of 1.62.
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Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
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