Parsifal Capital Management LP Makes New Investment in Louisiana-Pacific Corporation $LPX

Parsifal Capital Management LP bought a new stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 234,757 shares of the building manufacturing company’s stock, valued at approximately $18,465,986. Louisiana-Pacific makes up about 0.0% of Parsifal Capital Management LP’s holdings, making the stock its 14th biggest holding. Parsifal Capital Management LP owned about 0.34% of Louisiana-Pacific at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Louisiana-Pacific during the second quarter valued at about $506,638,000. Boston Partners acquired a new stake in shares of Louisiana-Pacific in the third quarter valued at $100,770,000. Capital Research Global Investors grew its stake in shares of Louisiana-Pacific by 306.2% in the 4th quarter. Capital Research Global Investors now owns 1,273,497 shares of the building manufacturing company’s stock valued at $102,848,000 after purchasing an additional 960,000 shares during the last quarter. Eminence Capital LP grew its stake in Louisiana-Pacific by 29.9% in the 4th quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock valued at $326,927,000 after acquiring an additional 932,177 shares during the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new position in Louisiana-Pacific in the first quarter valued at $56,596,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on LPX. Zacks Research downgraded shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Barclays lowered their price objective on Louisiana-Pacific from $93.00 to $92.00 and set an “overweight” rating on the stock in a research note on Thursday, August 6th. TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. BMO Capital Markets upgraded shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price target for the company in a research report on Thursday, May 7th. Finally, Jefferies Financial Group began coverage on shares of Louisiana-Pacific in a research note on Tuesday, June 23rd. They set a “buy” rating and a $93.00 target price for the company. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Louisiana-Pacific Price Performance

Shares of LPX stock traded up $0.48 during mid-day trading on Friday, reaching $71.20. The stock had a trading volume of 597,594 shares, compared to its average volume of 1,140,181. Louisiana-Pacific Corporation has a 12-month low of $66.12 and a 12-month high of $101.28. The company has a current ratio of 3.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $74.94 and a 200 day simple moving average of $75.90. The company has a market cap of $4.98 billion, a P/E ratio of 90.13, a price-to-earnings-growth ratio of 10.08 and a beta of 1.62.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The firm had revenue of $665.00 million during the quarter, compared to analyst estimates of $667.31 million. During the same period last year, the business earned $0.99 EPS. The firm’s revenue was down 12.1% on a year-over-year basis. On average, sell-side analysts anticipate that Louisiana-Pacific Corporation will post 1.17 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued a $0.30 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.20 annualized dividend and a yield of 1.7%. Louisiana-Pacific’s payout ratio is presently 151.90%.

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.