Hosking Partners LLP Sells 1,334 Shares of Louisiana-Pacific Co. (LPX)
Hosking Partners LLP cut its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 0.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 266,229 shares of the building manufacturing company’s stock after selling 1,334 shares during the quarter. Hosking Partners LLP’s holdings in Louisiana-Pacific were worth $6,491,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in Louisiana-Pacific by 28.5% in the 4th quarter. Toronto Dominion Bank now owns 2,570 shares of the building manufacturing company’s stock worth $57,000 after purchasing an additional 570 shares in the last quarter. Comerica Bank boosted its stake in Louisiana-Pacific by 0.8% in the 4th quarter. Comerica Bank now owns 91,608 shares of the building manufacturing company’s stock worth $2,206,000 after purchasing an additional 770 shares in the last quarter. Strs Ohio boosted its stake in Louisiana-Pacific by 2.0% in the 4th quarter. Strs Ohio now owns 62,200 shares of the building manufacturing company’s stock worth $1,382,000 after purchasing an additional 1,200 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Louisiana-Pacific by 3.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 36,261 shares of the building manufacturing company’s stock worth $806,000 after purchasing an additional 1,226 shares in the last quarter. Finally, Lavaca Capital LLC bought a new position in Louisiana-Pacific in the 4th quarter worth about $29,000. 89.44% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the stock. Longbow Research upgraded shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Monday. TD Securities lowered their target price on shares of Louisiana-Pacific from $27.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Zacks Investment Research upgraded shares of Louisiana-Pacific from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. ValuEngine upgraded shares of Louisiana-Pacific from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Bank of America upgraded shares of Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $24.75 target price on the stock in a research note on Tuesday, April 30th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Louisiana-Pacific currently has a consensus rating of “Buy” and a consensus target price of $28.68.
Louisiana-Pacific stock opened at $23.49 on Tuesday. The company has a market capitalization of $2.96 billion, a P/E ratio of 8.57, a PEG ratio of 3.21 and a beta of 1.37. Louisiana-Pacific Co. has a 12-month low of $20.39 and a 12-month high of $32.16. The company has a quick ratio of 2.25, a current ratio of 3.55 and a debt-to-equity ratio of 0.28.
Louisiana-Pacific (NYSE:LPX) last released its earnings results on Tuesday, May 7th. The building manufacturing company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.03). The firm had revenue of $582.00 million during the quarter, compared to analysts’ expectations of $601.49 million. Louisiana-Pacific had a return on equity of 19.63% and a net margin of 12.16%. The company’s revenue was down 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share. Analysts forecast that Louisiana-Pacific Co. will post 1.5 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Tuesday, May 21st will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.30%. The ex-dividend date is Monday, May 20th. Louisiana-Pacific’s dividend payout ratio is 19.71%.
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Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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