Westpac Banking Corp Makes New Investment in Louisiana-Pacific Corporation $LPX

Westpac Banking Corp acquired a new position in shares of Louisiana-Pacific Corporation (NYSE:LPX) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 21,279 shares of the building manufacturing company’s stock, valued at approximately $1,548,000.

Several other hedge funds and other institutional investors also recently modified their holdings of LPX. WINTON GROUP Ltd raised its stake in shares of Louisiana-Pacific by 2.7% in the 3rd quarter. WINTON GROUP Ltd now owns 6,877 shares of the building manufacturing company’s stock valued at $611,000 after purchasing an additional 183 shares in the last quarter. Tidal Investments LLC grew its stake in Louisiana-Pacific by 1.2% in the second quarter. Tidal Investments LLC now owns 21,339 shares of the building manufacturing company’s stock worth $1,835,000 after purchasing an additional 247 shares in the last quarter. Parallel Advisors LLC grew its stake in Louisiana-Pacific by 204.0% in the first quarter. Parallel Advisors LLC now owns 380 shares of the building manufacturing company’s stock worth $28,000 after purchasing an additional 255 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in Louisiana-Pacific by 4.1% in the fourth quarter. Wealthspire Advisors LLC now owns 6,465 shares of the building manufacturing company’s stock valued at $522,000 after buying an additional 256 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Louisiana-Pacific by 3.1% in the second quarter. Sei Investments Co. now owns 8,584 shares of the building manufacturing company’s stock valued at $738,000 after buying an additional 257 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

LPX has been the topic of a number of research analyst reports. TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Thursday, May 7th. Bank of America boosted their price target on Louisiana-Pacific from $85.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group began coverage on Louisiana-Pacific in a research report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price target on the stock. Barclays raised their price objective on Louisiana-Pacific from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, TD lifted their price objective on shares of Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $97.80.

Louisiana-Pacific Price Performance

LPX opened at $72.49 on Thursday. The firm has a market cap of $5.06 billion, a price-to-earnings ratio of 61.43, a price-to-earnings-growth ratio of 2.21 and a beta of 1.60. Louisiana-Pacific Corporation has a fifty-two week low of $66.12 and a fifty-two week high of $102.86. The company’s 50-day moving average price is $74.48 and its 200 day moving average price is $78.73. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The firm had revenue of $574.00 million for the quarter, compared to analysts’ expectations of $569.99 million. During the same quarter last year, the company posted $1.27 earnings per share. Louisiana-Pacific’s revenue was down 20.7% on a year-over-year basis. As a group, sell-side analysts expect that Louisiana-Pacific Corporation will post 1.93 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio is presently 101.69%.

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.