Kinetic Partners Management LP Takes $10.49 Million Position in Louisiana-Pacific Corporation $LPX

Kinetic Partners Management LP purchased a new position in shares of Louisiana-Pacific Corporation (NYSE:LPX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 133,395 shares of the building manufacturing company’s stock, valued at approximately $10,493,000.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Louisiana-Pacific by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,160,434 shares of the building manufacturing company’s stock valued at $93,735,000 after purchasing an additional 18,287 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Louisiana-Pacific by 20.5% in the first quarter. Principal Financial Group Inc. now owns 497,852 shares of the building manufacturing company’s stock worth $36,219,000 after buying an additional 84,661 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Louisiana-Pacific in the 4th quarter worth $14,472,000. Norges Bank acquired a new stake in shares of Louisiana-Pacific in the fourth quarter valued at about $60,184,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of Louisiana-Pacific by 2,547.1% during the 4th quarter. Thrivent Financial for Lutherans now owns 385,416 shares of the building manufacturing company’s stock worth $31,126,000 after purchasing an additional 370,856 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Louisiana-Pacific Price Performance

LPX opened at $72.49 on Wednesday. The stock has a market capitalization of $5.07 billion, a P/E ratio of 91.76, a price-to-earnings-growth ratio of 10.28 and a beta of 1.62. 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 company’s 50 day simple moving average is $75.16 and its 200-day simple moving average is $76.24.

Louisiana-Pacific (NYSE:LPX) last posted 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). The firm had revenue of $665.00 million during the quarter, compared to the consensus estimate of $667.31 million. Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. Louisiana-Pacific’s revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 EPS. Sell-side analysts anticipate that Louisiana-Pacific Corporation will post 1.17 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.30 per share. The ex-dividend date is Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Louisiana-Pacific’s payout ratio is presently 151.90%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LPX. Truist Financial cut their price target on Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Bank of America raised their price objective on Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Barclays lowered their price target on shares of Louisiana-Pacific from $93.00 to $92.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. BMO Capital Markets upgraded shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price target for the company in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group upped their price target on Louisiana-Pacific from $66.00 to $74.00 and gave the company a “sell” rating in a research report on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to MarketBeat, Louisiana-Pacific presently has an average rating of “Moderate Buy” and an average target price of $94.00.

Louisiana-Pacific Profile

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.