Bank of America downgraded shares of Louisiana-Pacific (NYSE:LPX – Get Rating) from a neutral rating to an underperform rating in a research report released on Tuesday morning, Marketbeat.com reports. They currently have $56.00 price target on the building manufacturing company's stock, down from their previous price target of $64.00.

Other equities research analysts have also recently issued reports about the company. TD Securities cut their target price on Louisiana-Pacific from $80.00 to $75.00 and set a buy rating for the company in a research note on Wednesday, August 10th. DA Davidson upped their target price on Louisiana-Pacific to $70.00 in a research note on Monday, August 15th. The Goldman Sachs Group cut their target price on Louisiana-Pacific from $90.00 to $65.00 and set a neutral rating for the company in a research note on Thursday, June 23rd. Finally, Truist Financial initiated coverage on Louisiana-Pacific in a research note on Wednesday, June 29th. They set a hold rating and a $57.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Louisiana-Pacific presently has an average rating of Hold and an average target price of $67.50.

Louisiana-Pacific Trading Down 3.4 %

Shares of LPX stock opened at $50.92 on Tuesday. The company has a current ratio of 2.60, a quick ratio of 1.94 and a debt-to-equity ratio of 0.23. The stock has a market cap of $3.76 billion, a P/E ratio of 3.10 and a beta of 1.68. The stock has a 50 day simple moving average of $57.68 and a 200 day simple moving average of $61.68. Louisiana-Pacific has a 1 year low of $49.98 and a 1 year high of $79.77.

Louisiana-Pacific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $0.88 annualized dividend and a dividend yield of 1.73%. Louisiana-Pacific's dividend payout ratio (DPR) is presently 5.37%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LPX. Verition Fund Management LLC increased its holdings in Louisiana-Pacific by 212.6% in the second quarter. Verition Fund Management LLC now owns 302,903 shares of the building manufacturing company's stock valued at $15,875,000 after purchasing an additional 206,008 shares during the period. Captrust Financial Advisors increased its holdings in Louisiana-Pacific by 4.4% in the second quarter. Captrust Financial Advisors now owns 9,415 shares of the building manufacturing company's stock valued at $493,000 after purchasing an additional 395 shares during the period. CNB Bank acquired a new stake in Louisiana-Pacific in the second quarter valued at $66,000. Atlas Capital Advisors LLC acquired a new stake in Louisiana-Pacific in the second quarter valued at $42,000. Finally, Neo Ivy Capital Management acquired a new stake in Louisiana-Pacific in the second quarter valued at $120,000. 91.07% of the stock is currently owned by institutional investors and hedge funds.

About Louisiana-Pacific

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Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.

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