Parsifal Capital Management LP Buys Shares of 234,757 Louisiana-Pacific Corporation $LPX

Parsifal Capital Management LP purchased a new position in Louisiana-Pacific Corporation (NYSE:LPX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 234,757 shares of the building manufacturing company’s stock, valued at approximately $18,465,986,000. Louisiana-Pacific accounts for about 2.2% of Parsifal Capital Management LP’s portfolio, making the stock its 14th largest position.

A number of other hedge funds have also recently modified their holdings of the business. Western Wealth Management LLC purchased a new stake in shares of Louisiana-Pacific in the 1st quarter worth $25,000. North Ridge Wealth Advisors Inc. purchased a new position in Louisiana-Pacific during the second quarter valued at $26,000. Parallel Advisors LLC grew its holdings in Louisiana-Pacific by 204.0% during the first quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock valued at $28,000 after purchasing an additional 255 shares during the period. Los Angeles Capital Management LLC bought a new stake in Louisiana-Pacific during the fourth quarter valued at about $29,000. Finally, Root Financial Partners LLC increased its position in Louisiana-Pacific by 177.6% in the first quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company’s stock worth $32,000 after buying an additional 277 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group started coverage on Louisiana-Pacific in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 price objective on the stock. Oppenheimer cut their price objective on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Truist Financial dropped their price target on shares of Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. DA Davidson dropped their price target on shares of Louisiana-Pacific from $103.00 to $99.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Finally, Zacks Research cut shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Eleven analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

Louisiana-Pacific Price Performance

NYSE:LPX opened at $73.19 on Monday. The business’s 50-day moving average is $75.35 and its 200 day moving average is $76.51. Louisiana-Pacific Corporation has a 12 month low of $66.12 and a 12 month high of $101.28. The company has a market capitalization of $5.12 billion, a P/E ratio of 92.65, a P/E/G ratio of 10.36 and a beta of 1.62. The company has a current ratio of 3.22, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last released 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 $665.00 million during the quarter, compared to the consensus estimate of $667.31 million. Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The business’s revenue was down 12.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.99 EPS. On average, equities research analysts forecast that Louisiana-Pacific Corporation will post 1.17 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm 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 of this dividend is Friday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. Louisiana-Pacific’s dividend payout ratio (DPR) is 151.90%.

Louisiana-Pacific Company 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.