Hsbc Holdings PLC Acquires 10,661 Shares of Louisiana-Pacific Corporation $LPX

Hsbc Holdings PLC boosted its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 94.7% during the fourth quarter, HoldingsChannel reports. The fund owned 21,916 shares of the building manufacturing company’s stock after purchasing an additional 10,661 shares during the quarter. Hsbc Holdings PLC’s holdings in Louisiana-Pacific were worth $1,781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its holdings in shares of Louisiana-Pacific by 55.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,186 shares of the building manufacturing company’s stock worth $177,000 after purchasing an additional 778 shares during the period. Corient Private Wealth LLC raised its position in Louisiana-Pacific by 36.1% during the 4th quarter. Corient Private Wealth LLC now owns 7,494 shares of the building manufacturing company’s stock worth $605,000 after purchasing an additional 1,987 shares during the last quarter. Virtu Financial LLC acquired a new position in Louisiana-Pacific during the 4th quarter worth about $248,000. Alpine Woods Capital Investors LLC bought a new stake in shares of Louisiana-Pacific in the 4th quarter valued at about $665,000. Finally, Empowered Funds LLC bought a new position in Louisiana-Pacific during the 4th quarter worth approximately $810,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPX has been the subject of several research analyst reports. BMO Capital Markets raised Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Barclays cut their price objective on shares of Louisiana-Pacific from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Zacks Research downgraded Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Finally, Truist Financial reaffirmed 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. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.78.

Louisiana-Pacific Stock Up 0.9%

LPX stock traded up $0.63 during midday trading on Friday, reaching $73.35. 1,215,666 shares of the company’s stock traded hands, compared to its average volume of 1,048,215. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average price is $74.37 and its 200-day moving average price is $79.24. Louisiana-Pacific Corporation has a 52 week low of $66.12 and a 52 week high of $102.86. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 62.16, a P/E/G ratio of 1.84 and a beta of 1.60.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.24. The firm had revenue of $574.00 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $1.27 earnings per share. As a group, sell-side analysts forecast that Louisiana-Pacific Corporation will post 2 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. Louisiana-Pacific’s payout ratio is 101.69%.

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.