Southernsun Asset Management LLC Buys 28,615 Shares of Louisiana-Pacific Corporation $LPX

Southernsun Asset Management LLC lifted its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 6.3% during the first quarter, Holdings Channel reports. The firm owned 485,869 shares of the building manufacturing company’s stock after purchasing an additional 28,615 shares during the quarter. Louisiana-Pacific makes up approximately 5.1% of Southernsun Asset Management LLC’s portfolio, making the stock its 4th largest holding. Southernsun Asset Management LLC’s holdings in Louisiana-Pacific were worth $35,347,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LPX. Westpac Banking Corp acquired a new position in shares of Louisiana-Pacific in the 1st quarter valued at $1,548,000. Leith Wheeler Investment Counsel Ltd. raised its holdings in Louisiana-Pacific by 23.1% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 99,064 shares of the building manufacturing company’s stock worth $7,207,000 after buying an additional 18,577 shares during the period. Meeder Asset Management Inc. lifted its stake in Louisiana-Pacific by 1,505.4% during the first quarter. Meeder Asset Management Inc. now owns 594 shares of the building manufacturing company’s stock valued at $43,000 after buying an additional 557 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Louisiana-Pacific by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,639,721 shares of the building manufacturing company’s stock valued at $119,279,000 after buying an additional 15,232 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of 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 buying an additional 255 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Trading Down 1.7%

Shares of NYSE LPX opened at $70.12 on Wednesday. Louisiana-Pacific Corporation has a one year low of $66.12 and a one year high of $102.86. The firm has a market capitalization of $4.90 billion, a PE ratio of 59.43, a PEG ratio of 2.25 and a beta of 1.60. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $74.44 and a two-hundred day moving average price of $78.79.

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

Louisiana-Pacific Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently weighed in on LPX shares. Jefferies Financial Group assumed coverage on shares of Louisiana-Pacific in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $93.00 target price on the stock. Weiss Ratings upgraded shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. DA Davidson reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Louisiana-Pacific in a research note on Tuesday, May 5th. TD Securities upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Finally, Oppenheimer cut their target price on shares of 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 analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Louisiana-Pacific currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.80.

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.