Littlejohn & Co. LLC Invests $11.68 Million in Louisiana-Pacific Corporation $LPX

Littlejohn & Co. LLC bought a new stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) in the 1st quarter, HoldingsChannel reports. The fund bought 160,600 shares of the building manufacturing company’s stock, valued at approximately $11,684,000. Louisiana-Pacific accounts for about 11.1% of Littlejohn & Co. LLC’s investment portfolio, making the stock its 6th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Eminence Capital LP boosted its stake in Louisiana-Pacific by 29.9% during 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 purchasing an additional 932,177 shares in the last quarter. 59 North Capital Management LP lifted its stake in Louisiana-Pacific by 26.3% during the fourth quarter. 59 North Capital Management LP now owns 3,536,884 shares of the building manufacturing company’s stock valued at $285,639,000 after buying an additional 737,406 shares in the last quarter. State Street Corp grew its position in Louisiana-Pacific by 1.3% during the 4th quarter. State Street Corp now owns 2,171,315 shares of the building manufacturing company’s stock worth $175,355,000 after purchasing an additional 27,710 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Louisiana-Pacific by 23.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,723,824 shares of the building manufacturing company’s stock valued at $139,218,000 after buying an additional 332,794 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Louisiana-Pacific by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,639,721 shares of the building manufacturing company’s stock worth $119,279,000 after purchasing an additional 15,232 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LPX has been the subject of a number of recent research reports. Truist Financial cut their price target on Louisiana-Pacific from $93.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Barclays increased their target price on Louisiana-Pacific from $89.00 to $93.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. TD increased their target price on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. BMO Capital Markets raised shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price target on the stock in a report on Thursday, May 7th. Finally, DA Davidson reissued a “buy” rating and issued a $114.00 target price on shares of Louisiana-Pacific in a report on Tuesday, May 5th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.80.

Louisiana-Pacific Stock Performance

LPX stock opened at $72.19 on Friday. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average price is $74.45 and its two-hundred day moving average price is $78.66. Louisiana-Pacific Corporation has a 1-year low of $66.12 and a 1-year high of $102.86. The firm has a market cap of $5.04 billion, a PE ratio of 61.17, a P/E/G ratio of 2.29 and a beta of 1.60.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.24. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The business had revenue of $574.00 million for the quarter, compared to analyst estimates of $569.99 million. During the same quarter last year, the firm earned $1.27 EPS. Louisiana-Pacific’s revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, research analysts forecast that Louisiana-Pacific Corporation will post 1.93 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.7%. 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.