Waratah Capital Advisors Ltd. Has $23.10 Million Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Waratah Capital Advisors Ltd. lowered its stake in Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 43.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 371,872 shares of the building manufacturing company’s stock after selling 281,746 shares during the period. Waratah Capital Advisors Ltd. owned approximately 0.45% of Louisiana-Pacific worth $23,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Louisiana-Pacific by 22.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,069 shares of the building manufacturing company’s stock worth $1,259,000 after buying an additional 2,958 shares during the last quarter. Mutual of America Capital Management LLC increased its stake in Louisiana-Pacific by 1.8% during the first quarter. Mutual of America Capital Management LLC now owns 80,235 shares of the building manufacturing company’s stock valued at $4,984,000 after acquiring an additional 1,451 shares during the period. Euclidean Technologies Management LLC bought a new position in Louisiana-Pacific during the fourth quarter valued at about $250,000. Valeo Financial Advisors LLC grew its stake in shares of Louisiana-Pacific by 7.2% in the 1st quarter. Valeo Financial Advisors LLC now owns 8,255 shares of the building manufacturing company’s stock valued at $513,000 after purchasing an additional 555 shares during the period. Finally, ARS Wealth Advisors Group LLC bought a new stake in shares of Louisiana-Pacific in the 4th quarter valued at approximately $274,000. Institutional investors and hedge funds own 94.99% of the company’s stock.

Louisiana-Pacific Stock Performance

NYSE:LPX traded down $0.41 during mid-day trading on Friday, hitting $61.38. The stock had a trading volume of 1,055,206 shares, compared to its average volume of 1,060,858. Louisiana-Pacific Co. has a twelve month low of $49.98 and a twelve month high of $79.77. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 3.70 and a beta of 1.65. The company’s 50 day simple moving average is $60.18 and its 200 day simple moving average is $64.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.09 and a current ratio of 2.92.

Louisiana-Pacific (NYSE:LPX – Get Rating) last issued its earnings results on Tuesday, May 3rd. The building manufacturing company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.54 by $0.54. Louisiana-Pacific had a net margin of 31.62% and a return on equity of 105.01%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period last year, the business posted $3.01 EPS. Louisiana-Pacific’s revenue was up 31.5% on a year-over-year basis. On average, equities research analysts forecast that Louisiana-Pacific Co. will post 13.93 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $0.88 annualized dividend and a yield of 1.43%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 5.31%.

Analyst Ratings Changes

Several brokerages have recently commented on LPX. Bank of America downgraded Louisiana-Pacific from a “buy” rating to a “neutral” rating and set a $67.00 target price on the stock. in a report on Thursday, June 23rd. Truist Financial began coverage on Louisiana-Pacific in a report on Wednesday, June 29th. They issued a “hold” rating and a $57.00 target price on the stock. The Goldman Sachs Group reduced their target price on Louisiana-Pacific from $90.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, June 23rd. Finally, TD Securities cut their price target on Louisiana-Pacific from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.20.

Louisiana-Pacific Profile

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Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.