CenterBook Partners LP Boosts Stake in Louisiana-Pacific Corporation $LPX

CenterBook Partners LP boosted its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 267.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 32,507 shares of the building manufacturing company’s stock after acquiring an additional 23,656 shares during the period. CenterBook Partners LP’s holdings in Louisiana-Pacific were worth $2,625,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. North Ridge Wealth Advisors Inc. purchased a new stake in Louisiana-Pacific during the second quarter worth $26,000. Los Angeles Capital Management LLC purchased a new stake in Louisiana-Pacific during the fourth quarter worth $29,000. Larson Financial Group LLC lifted its holdings in Louisiana-Pacific by 291.2% during the third quarter. Larson Financial Group LLC now owns 536 shares of the building manufacturing company’s stock worth $48,000 after buying an additional 399 shares during the period. International Assets Investment Management LLC purchased a new stake in Louisiana-Pacific during the fourth quarter worth $52,000. Finally, Danske Bank A S purchased a new stake in Louisiana-Pacific during the third quarter worth $80,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Performance

Shares of LPX stock opened at $72.62 on Wednesday. The business’s fifty day simple moving average is $72.85 and its 200-day simple moving average is $80.17. The company has a market cap of $5.07 billion, a PE ratio of 61.54, a PEG ratio of 1.76 and a beta of 1.59. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Corporation has a 12-month low of $66.12 and a 12-month high of $102.86.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.24. The business had revenue of $574.00 million for the quarter, compared to the consensus estimate of $569.99 million. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The business’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 earnings per share. Analysts expect that Louisiana-Pacific Corporation will post 2 earnings per share for the current fiscal 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 given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio is presently 101.69%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LPX. BMO Capital Markets upgraded Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 target price for the company in a report on Thursday, May 7th. TD upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a report on Thursday, May 7th. DA Davidson reaffirmed a “buy” rating and set a $114.00 price target on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. Weiss Ratings raised Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Finally, Barclays reduced their price target on Louisiana-Pacific from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.25.

About Louisiana-Pacific

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.