32,579 Shares in Louisiana-Pacific Corporation $LPX Acquired by Man Group plc

Man Group plc acquired a new stake in Louisiana-Pacific Corporation (NYSE:LPX) in the second quarter, Holdings Channel.com reports. The firm acquired 32,579 shares of the building manufacturing company’s stock, valued at approximately $2,563,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of Louisiana-Pacific by 27.3% during the second quarter. Versant Capital Management Inc now owns 630 shares of the building manufacturing company’s stock worth $50,000 after acquiring an additional 135 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Louisiana-Pacific by 26.0% in the first quarter. EverSource Wealth Advisors LLC now owns 692 shares of the building manufacturing company’s stock valued at $50,000 after purchasing an additional 143 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Louisiana-Pacific by 1.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 9,225 shares of the building manufacturing company’s stock valued at $726,000 after purchasing an additional 147 shares during the period. WINTON GROUP Ltd raised its stake in shares of Louisiana-Pacific by 2.7% during the 3rd quarter. WINTON GROUP Ltd now owns 6,877 shares of the building manufacturing company’s stock valued at $611,000 after purchasing an additional 183 shares during the period. Finally, Tidal Investments LLC lifted its holdings in Louisiana-Pacific by 1.2% during the 2nd quarter. Tidal Investments LLC now owns 21,339 shares of the building manufacturing company’s stock worth $1,835,000 after purchasing an additional 247 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Trading Down 1.0%

Louisiana-Pacific stock opened at $70.55 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 3.22. Louisiana-Pacific Corporation has a fifty-two week low of $66.12 and a fifty-two week high of $101.28. The stock has a market cap of $4.93 billion, a P/E ratio of 89.30, a PEG ratio of 10.08 and a beta of 1.62. The firm’s fifty day moving average price is $74.71 and its 200-day moving average price is $75.52.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.16). Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The business had revenue of $665.00 million for the quarter, compared to the consensus estimate of $667.31 million. During the same period in the prior year, the business posted $0.99 EPS. Louisiana-Pacific’s quarterly revenue was down 12.1% on a year-over-year basis. Equities research analysts forecast that Louisiana-Pacific Corporation will post 1.17 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 151.90%.

Analyst Upgrades and Downgrades

Several brokerages have commented on LPX. Bank of America raised their target price on Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Truist Financial decreased their price target on Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. 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. Zacks Research lowered shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings cut shares of Louisiana-Pacific from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Louisiana-Pacific currently has an average rating of “Moderate Buy” and an average price target of $94.00.

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.