TD Asset Management Inc Purchases New Position in Louisiana-Pacific Co. (NYSE:LPX)

TD Asset Management Inc acquired a new stake in Louisiana-Pacific Co. (NYSE:LPX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 25,800 shares of the building manufacturing company’s stock, valued at approximately $2,124,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LifeSteps Financial Inc. purchased a new stake in shares of Louisiana-Pacific during the first quarter worth approximately $25,000. Fidelis Capital Partners LLC acquired a new position in Louisiana-Pacific during the first quarter worth $25,000. Whittier Trust Co. acquired a new position in Louisiana-Pacific during the first quarter worth $31,000. Bessemer Group Inc. grew its holdings in Louisiana-Pacific by 258.5% during the first quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock worth $37,000 after acquiring an additional 318 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Louisiana-Pacific by 57.3% during the second quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock worth $40,000 after acquiring an additional 177 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on LPX shares. BMO Capital Markets lowered Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 target price on the stock. in a report on Thursday, August 8th. Royal Bank of Canada increased their price objective on Louisiana-Pacific from $101.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up previously from $101.00) on shares of Louisiana-Pacific in a research note on Thursday, August 8th. The Goldman Sachs Group increased their price objective on Louisiana-Pacific from $78.00 to $86.00 and gave the company a “sell” rating in a research note on Thursday, August 8th. Finally, DA Davidson increased their price objective on Louisiana-Pacific from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Louisiana-Pacific presently has an average rating of “Hold” and a consensus price target of $92.67.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $97.92 on Friday. The business’s 50-day moving average price is $92.74 and its 200 day moving average price is $85.81. The company has a market capitalization of $6.88 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 0.60 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. Louisiana-Pacific Co. has a twelve month low of $49.47 and a twelve month high of $101.89.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. The company had revenue of $814.00 million for the quarter, compared to the consensus estimate of $797.26 million. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. The company’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same period last year, the business posted $0.55 EPS. On average, research analysts predict that Louisiana-Pacific Co. will post 5.05 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $0.26 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.06%. Louisiana-Pacific’s dividend payout ratio (DPR) is 28.57%.

Insider Transactions at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 800 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $96.10, for a total value of $76,880.00. Following the transaction, the director now directly owns 29,008 shares in the company, valued at approximately $2,787,668.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 800 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $96.10, for a total transaction of $76,880.00. Following the completion of the sale, the director now owns 29,008 shares in the company, valued at approximately $2,787,668.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. The disclosure for this sale can be found here. Insiders have sold a total of 36,991 shares of company stock worth $3,443,269 in the last three months. 1.26% of the stock is currently owned by company insiders.

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.