Louisiana-Pacific Corporation (NYSE:LPX) Shares Purchased by Burns Matteson Capital Management LLC

Burns Matteson Capital Management LLC lifted its holdings in Louisiana-Pacific Corporation (NYSE:LPX) by 35.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,888 shares of the building manufacturing company’s stock after acquiring an additional 753 shares during the quarter. Burns Matteson Capital Management LLC’s holdings in Louisiana-Pacific were worth $266,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Hohimer Wealth Management LLC increased its position in shares of Louisiana-Pacific by 4.9% in the first quarter. Hohimer Wealth Management LLC now owns 4,293 shares of the building manufacturing company’s stock worth $395,000 after acquiring an additional 199 shares in the last quarter. Edgestream Partners L.P. grew its position in Louisiana-Pacific by 264.3% during the first quarter. Edgestream Partners L.P. now owns 43,026 shares of the building manufacturing company’s stock valued at $3,958,000 after purchasing an additional 31,216 shares in the last quarter. CWM LLC grew its position in Louisiana-Pacific by 4.1% during the first quarter. CWM LLC now owns 2,919 shares of the building manufacturing company’s stock valued at $268,000 after purchasing an additional 115 shares in the last quarter. New York State Common Retirement Fund grew its position in Louisiana-Pacific by 8.9% during the first quarter. New York State Common Retirement Fund now owns 184,044 shares of the building manufacturing company’s stock valued at $16,928,000 after purchasing an additional 15,104 shares in the last quarter. Finally, Xponance Inc. grew its position in Louisiana-Pacific by 1.1% during the first quarter. Xponance Inc. now owns 11,370 shares of the building manufacturing company’s stock valued at $1,046,000 after purchasing an additional 127 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Activity at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 1,179 shares of the firm’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total transaction of $105,544.08. Following the completion of the transaction, the director directly owned 18,838 shares in the company, valued at $1,686,377.76. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.42% of the company’s stock.

Louisiana-Pacific Price Performance

NYSE LPX opened at $88.64 on Friday. The company has a 50-day moving average price of $90.57 and a 200-day moving average price of $96.06. The company has a quick ratio of 1.59, a current ratio of 3.03 and a debt-to-equity ratio of 0.21. Louisiana-Pacific Corporation has a 52 week low of $78.82 and a 52 week high of $122.87. The firm has a market capitalization of $6.17 billion, a P/E ratio of 15.55, a PEG ratio of 1.39 and a beta of 1.84.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Tuesday, May 6th. The building manufacturing company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. Louisiana-Pacific had a return on equity of 23.75% and a net margin of 13.74%. The firm had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $711.66 million. During the same quarter in the previous year, the business earned $1.53 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.26%. Louisiana-Pacific’s payout ratio is currently 19.65%.

Wall Street Analysts Forecast Growth

Several research firms have commented on LPX. Loop Capital raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Wednesday, May 7th. Truist Financial reduced their price objective on shares of Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, July 11th. DA Davidson reduced their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, June 25th. Finally, Royal Bank Of Canada boosted their price objective on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $106.13.

About Louisiana-Pacific

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