Louisiana-Pacific Corporation $LPX Shares Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC raised its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 58.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 18,977 shares of the building manufacturing company’s stock after purchasing an additional 6,979 shares during the quarter. Simplicity Wealth LLC’s holdings in Louisiana-Pacific were worth $1,225,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Louisiana-Pacific during the 2nd quarter worth $506,638,000. Berkshire Hathaway Inc purchased a new position in Louisiana-Pacific in the second quarter worth $445,593,000. Dimensional Fund Advisors LP increased its stake in Louisiana-Pacific by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,639,721 shares of the building manufacturing company’s stock valued at $119,279,000 after acquiring an additional 15,232 shares during the last quarter. Maple Rock Capital Partners Inc. increased its stake in Louisiana-Pacific by 36.8% in the second quarter. Maple Rock Capital Partners Inc. now owns 1,521,859 shares of the building manufacturing company’s stock valued at $119,709,000 after acquiring an additional 409,300 shares during the last quarter. Finally, Deprince Race & Zollo Inc. bought 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.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LPX shares. The Goldman Sachs Group lowered their price target on Louisiana-Pacific from $74.00 to $64.00 and set a “sell” rating on the stock in a research report on Monday, October 12th. DA Davidson reiterated a “buy” rating and issued a $99.00 price objective on shares of Louisiana-Pacific in a report on Wednesday, September 2nd. Bank of America cut their price objective on Louisiana-Pacific from $100.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Wolfe Research initiated coverage on Louisiana-Pacific in a research report on Thursday, September 10th. They set an “outperform” rating and a $90.00 price objective on the stock. Finally, Barclays decreased their price objective on Louisiana-Pacific from $92.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.25.

Louisiana-Pacific Stock Performance

Shares of LPX opened at $72.19 on Wednesday. Louisiana-Pacific Corporation has a fifty-two week low of $62.18 and a fifty-two week high of $100.34. The firm has a 50 day moving average price of $68.56 and a 200-day moving average price of $75.67.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). The firm had revenue of $664.00 million for the quarter, compared to the consensus estimate of $667.31 million. During the same period last year, the business earned $0.99 earnings per share. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. Equities analysts expect that Louisiana-Pacific Corporation will post 1.13 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, August 14th.

About Louisiana-Pacific

Louisiana-Pacific Corporation (NYSE: LPX) is a manufacturer of building products used in residential, repair and remodeling, and outdoor construction. The company produces engineered wood products designed for use in structural framing, exterior siding, trim, and other building applications.

Its product portfolio includes LP SmartSide siding and trim, oriented strand board and other structural panel products, and solutions for outdoor buildings and construction projects. Louisiana-Pacific markets its products through building-material distributors, retailers, and specialty dealers.

Founded in 1972, Louisiana-Pacific is headquartered in Nashville, Tennessee.