Louisiana-Pacific (NYSE:LPX) Hits New 1-Year High After Dividend Announcement

Louisiana-Pacific Co. (NYSE:LPX) reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $112.11 and last traded at $112.01, with a volume of 5422 shares trading hands. The stock had previously closed at $108.50.

The newly announced dividend which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.04 annualized dividend and a dividend yield of 0.96%. Louisiana-Pacific’s payout ratio is currently 16.91%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LPX. DA Davidson upped their price objective on Louisiana-Pacific from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday. Truist Financial boosted their target price on Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group increased their price target on Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a research note on Wednesday. Bank of America lifted their price objective on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. Finally, TD Securities upped their price objective on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $101.78.

Louisiana-Pacific Stock Up 0.6 %

The firm has a market cap of $7.65 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 4.63 and a beta of 1.88. The company has a current ratio of 3.38, a quick ratio of 1.95 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $102.11 and a two-hundred day simple moving average of $93.09.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.86 by $0.23. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The company had revenue of $814.00 million during the quarter, compared to analysts’ expectations of $797.26 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. Louisiana-Pacific’s revenue for the quarter was up 33.2% on a year-over-year basis. As a group, sell-side analysts expect that Louisiana-Pacific Co. will post 5.12 EPS for the current fiscal year.

Insider Buying and Selling at Louisiana-Pacific

In other news, CEO William Bradley Southern sold 32,600 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total value of $3,046,144.00. Following the transaction, the chief executive officer now owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.30, for a total value of $245,750.00. Following the completion of the transaction, the director now owns 21,005 shares of the company’s stock, valued at $2,064,791.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the completion of the transaction, the chief executive officer now directly owns 596,886 shares in the company, valued at $55,773,027.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Louisiana-Pacific by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,740,249 shares of the building manufacturing company’s stock worth $146,026,000 after buying an additional 177,132 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Louisiana-Pacific by 92.4% in the 2nd quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock valued at $103,363,000 after purchasing an additional 602,803 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Louisiana-Pacific in the 2nd quarter valued at $91,053,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Louisiana-Pacific by 6.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 925,514 shares of the building manufacturing company’s stock valued at $77,660,000 after purchasing an additional 57,966 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Louisiana-Pacific by 188.3% in the 2nd quarter. Renaissance Technologies LLC now owns 447,400 shares of the building manufacturing company’s stock worth $36,834,000 after purchasing an additional 292,200 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.