Louisiana-Pacific (NYSE:LPX) Trading Up 6.6% After Dividend Announcement

Louisiana-Pacific Co. (NYSE:LPX) was up 6.6% on Tuesday following a dividend announcement from the company. The company traded as high as $108.61 and last traded at $107.81. Approximately 145,986 shares changed hands during trading, a decline of 83% from the average daily volume of 840,850 shares. The stock had previously closed at $101.14.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on LPX. Royal Bank of Canada raised their price target on Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets downgraded Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 price target for the company. in a report on Thursday, August 8th. Bank of America raised their price target on Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Truist Financial raised their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, DA Davidson boosted their price target on Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $101.78.

Louisiana-Pacific Stock Performance

The stock has a market capitalization of $7.60 billion, a P/E ratio of 17.58, a P/E/G ratio of 4.63 and a beta of 1.88. The company has a quick ratio of 1.95, a current ratio of 3.38 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average price of $101.89 and a 200-day moving average price of $92.98.

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

Insider Activity at Louisiana-Pacific

In related news, CEO William Bradley Southern sold 32,600 shares of the company’s 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 sale, the chief executive officer now owns 596,886 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Louisiana-Pacific news, CEO William Bradley Southern sold 32,600 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the completion of the sale, the chief executive officer now owns 596,886 shares in the company, valued at $55,773,027.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $98.30, for a total value of $245,750.00. Following the completion of the sale, the director now owns 21,005 shares of the company’s stock, valued at approximately $2,064,791.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,900 shares of company stock worth $3,368,774. 1.53% of the stock is owned by insiders.

Institutional Trading of Louisiana-Pacific

Several institutional investors have recently made changes to their positions in the business. CWM LLC grew its position in shares of Louisiana-Pacific by 4.3% during the third quarter. CWM LLC now owns 2,376 shares of the building manufacturing company’s stock worth $255,000 after purchasing an additional 97 shares in the last quarter. Gateway Investment Advisers LLC grew its position in shares of Louisiana-Pacific by 4.0% during the third quarter. Gateway Investment Advisers LLC now owns 2,603 shares of the building manufacturing company’s stock worth $280,000 after purchasing an additional 99 shares in the last quarter. Hanseatic Management Services Inc. boosted its stake in Louisiana-Pacific by 23.3% during the third quarter. Hanseatic Management Services Inc. now owns 835 shares of the building manufacturing company’s stock valued at $90,000 after buying an additional 158 shares during the last quarter. Covestor Ltd boosted its stake in Louisiana-Pacific by 61.0% during the third quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock valued at $46,000 after buying an additional 163 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Louisiana-Pacific by 1.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,027 shares of the building manufacturing company’s stock valued at $1,237,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

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.