59 North Capital Management LP Has $285.64 Million Stake in Louisiana-Pacific Corporation $LPX

59 North Capital Management LP increased its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 26.3% in the 4th quarter, HoldingsChannel reports. The fund owned 3,536,884 shares of the building manufacturing company’s stock after acquiring an additional 737,406 shares during the period. Louisiana-Pacific accounts for approximately 8.9% of 59 North Capital Management LP’s holdings, making the stock its 5th largest holding. 59 North Capital Management LP owned approximately 0.05% of Louisiana-Pacific worth $285,639,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Channing Capital Management LLC boosted its holdings in shares of Louisiana-Pacific by 12.0% in the third quarter. Channing Capital Management LLC now owns 840,500 shares of the building manufacturing company’s stock valued at $74,670,000 after acquiring an additional 90,388 shares in the last quarter. Citigroup Inc. boosted its holdings in Louisiana-Pacific by 48.9% during the third quarter. Citigroup Inc. now owns 95,161 shares of the building manufacturing company’s stock worth $8,454,000 after buying an additional 31,244 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Louisiana-Pacific by 1.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,549,853 shares of the building manufacturing company’s stock worth $137,666,000 after buying an additional 28,535 shares in the last quarter. Eminence Capital LP boosted its holdings in Louisiana-Pacific by 7.9% during the third quarter. Eminence Capital LP now owns 3,115,959 shares of the building manufacturing company’s stock worth $276,822,000 after buying an additional 228,521 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in Louisiana-Pacific during the third quarter worth approximately $14,285,000. 94.73% of the stock is currently owned by institutional investors.

Louisiana-Pacific Stock Performance

Shares of LPX opened at $75.34 on Thursday. The company has a market capitalization of $5.26 billion, a PE ratio of 63.85, a price-to-earnings-growth ratio of 1.94 and a beta of 1.59. Louisiana-Pacific Corporation has a one year low of $66.12 and a one year high of $102.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48. The company’s fifty day moving average price is $73.31 and its 200 day moving average price is $80.02.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.14 by $0.24. The firm had revenue of $574.00 million for the quarter, compared to the consensus estimate of $569.99 million. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The business’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 EPS. As a group, analysts expect that Louisiana-Pacific Corporation will post 2 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is 101.69%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Securities upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. BMO Capital Markets raised shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a research note on Thursday, May 7th. Weiss Ratings raised shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Truist Financial reiterated a “buy” rating and issued a $93.00 target price (down from $95.00) on shares of Louisiana-Pacific in a research report on Friday, May 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $104.00 target price on shares of Louisiana-Pacific in a research report on Wednesday, February 18th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $97.25.

Louisiana-Pacific Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.