The Manufacturers Life Insurance Company Purchases New Holdings in Louisiana-Pacific Corporation $LPX

The Manufacturers Life Insurance Company acquired a new position in shares of Louisiana-Pacific Corporation (NYSE:LPX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 45,478 shares of the building manufacturing company’s stock, valued at approximately $3,577,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. North Ridge Wealth Advisors Inc. bought a new position in shares of Louisiana-Pacific during the second quarter valued at approximately $26,000. Los Angeles Capital Management LLC bought a new stake in shares of Louisiana-Pacific in the 4th quarter worth approximately $29,000. Western Wealth Management LLC bought a new stake in shares of Louisiana-Pacific in the 1st quarter worth approximately $25,000. Parallel Advisors LLC grew its stake in shares of Louisiana-Pacific by 204.0% in the 1st quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock worth $28,000 after buying an additional 255 shares during the last quarter. Finally, Root Financial Partners LLC increased its position in Louisiana-Pacific by 177.6% during the 1st quarter. Root Financial Partners LLC now owns 433 shares of the building manufacturing company’s stock valued at $32,000 after buying an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Down 2.4%

Shares of Louisiana-Pacific stock opened at $68.82 on Wednesday. The company’s 50 day moving average is $74.60 and its 200 day moving average is $75.32. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 87.12, a price-to-earnings-growth ratio of 9.98 and a beta of 1.59. The company has a quick ratio of 1.67, a current ratio of 3.22 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Corporation has a twelve month low of $66.12 and a twelve month high of $101.28.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $667.31 million. Louisiana-Pacific had a return on equity of 4.67% and a net margin of 2.19%.The business’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter last year, the business earned $0.99 earnings per share. Research analysts anticipate that Louisiana-Pacific Corporation will post 1.17 EPS for the current year.

Louisiana-Pacific Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LPX. DA Davidson lowered their price objective on Louisiana-Pacific from $103.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Jefferies Financial Group began coverage on Louisiana-Pacific in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 target price on the stock. Oppenheimer reduced their price target on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. TD upped their price target on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Finally, TD Securities raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $94.00.

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.