Skye Global Management LP Makes New $4.19 Million Investment in Louisiana-Pacific Co. (NYSE:LPX)

Skye Global Management LP acquired a new stake in Louisiana-Pacific Co. (NYSE:LPX) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 40,500 shares of the building manufacturing company’s stock, valued at approximately $4,194,000. Skye Global Management LP owned approximately 0.06% of Louisiana-Pacific at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Alyeska Investment Group L.P. raised its stake in Louisiana-Pacific by 1,736.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 891,351 shares of the building manufacturing company’s stock valued at $92,299,000 after purchasing an additional 842,809 shares in the last quarter. Norges Bank bought a new position in Louisiana-Pacific in the 4th quarter valued at about $78,181,000. FMR LLC increased its holdings in Louisiana-Pacific by 17.1% in the 4th quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company’s stock valued at $384,031,000 after buying an additional 540,703 shares during the period. Palestra Capital Management LLC acquired a new position in shares of Louisiana-Pacific in the 4th quarter valued at approximately $34,521,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Louisiana-Pacific by 215.0% during the 4th quarter. Principal Financial Group Inc. now owns 470,167 shares of the building manufacturing company’s stock worth $48,686,000 after acquiring an additional 320,912 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LPX has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. DA Davidson lowered their target price on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Truist Financial reduced their price target on shares of Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. TD Securities lowered their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. Finally, Royal Bank of Canada increased their price objective on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $107.38.

Louisiana-Pacific Trading Up 0.8%

Shares of NYSE LPX opened at $93.48 on Friday. The firm has a 50 day moving average price of $89.05 and a two-hundred day moving average price of $102.45. The stock has a market cap of $6.51 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.94. Louisiana-Pacific Co. has a 52-week low of $78.82 and a 52-week high of $122.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.86.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Tuesday, May 6th. The building manufacturing company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. The business had revenue of $724.00 million during the quarter, compared to the consensus estimate of $711.66 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. Louisiana-Pacific’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $1.53 earnings per share. As a group, equities analysts forecast that Louisiana-Pacific Co. will post 5.27 EPS for the current year.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, May 20th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.20%. Louisiana-Pacific’s dividend payout ratio (DPR) is 19.65%.

Louisiana-Pacific 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.