10,752 Shares in Louisiana-Pacific Corporation $LPX Purchased by Westpac Banking Corp

Westpac Banking Corp bought a new stake in Louisiana-Pacific Corporation (NYSE:LPX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,752 shares of the building manufacturing company’s stock, valued at approximately $846,000.

Several other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Louisiana-Pacific in the second quarter valued at approximately $506,638,000. Eminence Capital LP increased its position in Louisiana-Pacific by 29.9% during the fourth quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock worth $326,927,000 after acquiring an additional 932,177 shares during the period. 59 North Capital Management LP increased its position in Louisiana-Pacific by 26.3% during the fourth quarter. 59 North Capital Management LP now owns 3,536,884 shares of the building manufacturing company’s stock worth $285,639,000 after acquiring an additional 737,406 shares during the period. State Street Corp raised its stake in Louisiana-Pacific by 1.3% during the 4th quarter. State Street Corp now owns 2,171,315 shares of the building manufacturing company’s stock valued at $175,355,000 after purchasing an additional 27,710 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Louisiana-Pacific by 23.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,723,824 shares of the building manufacturing company’s stock valued at $139,218,000 after purchasing an additional 332,794 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Louisiana-Pacific Stock Down 0.8%

Shares of LPX stock opened at $73.19 on Friday. Louisiana-Pacific Corporation has a one year low of $66.12 and a one year high of $101.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.22 and a quick ratio of 1.67. The stock has a fifty day moving average price of $75.35 and a 200 day moving average price of $76.57. The stock has a market cap of $5.12 billion, a P/E ratio of 92.65, a price-to-earnings-growth ratio of 10.36 and a beta of 1.62.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.16). Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The business had revenue of $665.00 million during the quarter, compared to the consensus estimate of $667.31 million. During the same period last year, the firm earned $0.99 EPS. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. Analysts predict that Louisiana-Pacific Corporation will post 1.17 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 14th. Louisiana-Pacific’s payout ratio is 151.90%.

Analysts Set New Price Targets

Several research firms have issued reports on LPX. The Goldman Sachs Group raised their price target on shares of Louisiana-Pacific from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Thursday, August 6th. Barclays cut their price objective on shares of Louisiana-Pacific from $93.00 to $92.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Weiss Ratings cut shares of Louisiana-Pacific from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. BMO Capital Markets raised Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 target price on the stock in a research report on Thursday, May 7th. Finally, Oppenheimer lowered their price target on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to MarketBeat.com, Louisiana-Pacific has an average rating of “Moderate Buy” and an average target price of $94.00.

About Louisiana-Pacific

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.