Ritholtz Wealth Management lessened its position in Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 58.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,629 shares of the building manufacturing company's stock after selling 7,769 shares during the period. Ritholtz Wealth Management's holdings in Louisiana-Pacific were worth $295,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. First Trust Advisors LP boosted its holdings in shares of Louisiana-Pacific by 24.7% in the first quarter. First Trust Advisors LP now owns 3,311,921 shares of the building manufacturing company's stock valued at $205,737,000 after buying an additional 655,132 shares during the period. State Street Corp boosted its holdings in shares of Louisiana-Pacific by 2.1% in the first quarter. State Street Corp now owns 2,441,912 shares of the building manufacturing company's stock valued at $151,692,000 after buying an additional 50,575 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Louisiana-Pacific by 17.8% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 2,346,563 shares of the building manufacturing company's stock valued at $145,768,000 after buying an additional 355,141 shares during the period. Bank of America Corp DE boosted its holdings in shares of Louisiana-Pacific by 3.8% in the first quarter. Bank of America Corp DE now owns 1,774,621 shares of the building manufacturing company's stock valued at $110,239,000 after buying an additional 64,723 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of Louisiana-Pacific by 7.3% in the first quarter. LSV Asset Management now owns 1,591,283 shares of the building manufacturing company's stock valued at $98,850,000 after buying an additional 107,961 shares during the period. Institutional investors own 91.07% of the company's stock.
Get Louisiana-Pacific alerts:Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on LPX. DA Davidson upped their price target on shares of Louisiana-Pacific to $70.00 in a report on Monday, August 15th. Truist Financial assumed coverage on shares of Louisiana-Pacific in a report on Wednesday, June 29th. They set a "hold" rating and a $57.00 target price for the company. Bank of America cut shares of Louisiana-Pacific from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $64.00 to $56.00 in a report on Tuesday, September 20th. The Goldman Sachs Group reduced their target price on shares of Louisiana-Pacific from $90.00 to $65.00 and set a "neutral" rating for the company in a report on Thursday, June 23rd. Finally, TD Securities reduced their target price on shares of Louisiana-Pacific from $80.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $67.50.
Louisiana-Pacific Stock Performance
Shares of LPX stock opened at $48.40 on Tuesday. The stock has a market cap of $3.58 billion, a P/E ratio of 2.95 and a beta of 1.68. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.60 and a quick ratio of 1.94. The company has a fifty day moving average price of $57.33 and a two-hundred day moving average price of $61.43. Louisiana-Pacific Co. has a one year low of $48.20 and a one year high of $79.77.Louisiana-Pacific (NYSE:LPX – Get Rating) last announced its quarterly earnings results on Tuesday, August 9th. The building manufacturing company reported $4.19 EPS for the quarter, missing analysts' consensus estimates of $4.38 by ($0.19). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.26 billion. Louisiana-Pacific had a net margin of 30.50% and a return on equity of 94.18%. The business's revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.74 EPS. As a group, equities analysts predict that Louisiana-Pacific Co. will post 12.8 EPS for the current year.
Louisiana-Pacific Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date was Wednesday, August 17th. Louisiana-Pacific's dividend payout ratio is currently 5.37%.
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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