Cooke & Bieler LP Purchases 194,210 Shares of Louisiana-Pacific Corporation $LPX

Cooke & Bieler LP bought a new position in shares of Louisiana-Pacific Corporation (NYSE:LPX) during the third quarter, Holdings Channel reports. The fund bought 194,210 shares of the building manufacturing company’s stock, valued at approximately $12,536,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LPX. Versant Capital Management Inc raised its holdings in Louisiana-Pacific by 27.3% in the 2nd quarter. Versant Capital Management Inc now owns 630 shares of the building manufacturing company’s stock valued at $50,000 after buying an additional 135 shares during the period. EverSource Wealth Advisors LLC grew its stake in Louisiana-Pacific by 26.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 692 shares of the building manufacturing company’s stock worth $50,000 after purchasing an additional 143 shares in the last quarter. Valeo Financial Advisors LLC grew its position in shares of Louisiana-Pacific by 1.6% during the second quarter. Valeo Financial Advisors LLC now owns 9,225 shares of the building manufacturing company’s stock worth $726,000 after buying an additional 147 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Louisiana-Pacific by 4.2% in the 2nd quarter. HB Wealth Management LLC now owns 4,106 shares of the building manufacturing company’s stock valued at $323,000 after purchasing an additional 164 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Louisiana-Pacific by 2.3% in the second quarter. NewEdge Advisors LLC now owns 8,875 shares of the building manufacturing company’s stock valued at $698,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LPX. Wolfe Research assumed coverage on shares of Louisiana-Pacific in a research note on Thursday, September 10th. They issued an “outperform” rating and a $90.00 price target on the stock. Zacks Research upgraded Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a research report on Monday, October 5th. Barclays cut their price objective on shares of Louisiana-Pacific from $92.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, October 6th. Truist Financial cut their target price on Louisiana-Pacific from $91.00 to $89.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada reduced their price objective on shares of Louisiana-Pacific from $92.00 to $84.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.50.

Louisiana-Pacific Price Performance

LPX stock opened at $72.61 on Thursday. The company has a quick ratio of 1.67, a current ratio of 3.22 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 61.84, a price-to-earnings-growth ratio of 5.60 and a beta of 1.63. The stock’s fifty day simple moving average is $68.47 and its 200-day simple moving average is $72.22. Louisiana-Pacific Corporation has a 52-week low of $62.18 and a 52-week high of $100.34.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, August 5th. The building manufacturing company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.16). Louisiana-Pacific had a net margin of 2.19% and a return on equity of 4.67%. The company had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $667.31 million. During the same quarter in the previous year, the firm posted $0.99 earnings per share. Louisiana-Pacific’s revenue for the quarter was down 12.1% compared to the same quarter last year. Equities research analysts expect that Louisiana-Pacific Corporation will post 1.13 EPS for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Louisiana-Pacific’s dividend payout ratio is presently 151.90%.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a manufacturer of building products used in residential, repair and remodeling, and outdoor construction. The company produces engineered wood products designed for use in structural framing, exterior siding, trim, and other building applications.

Its product portfolio includes LP SmartSide siding and trim, oriented strand board and other structural panel products, and solutions for outdoor buildings and construction projects. Louisiana-Pacific markets its products through building-material distributors, retailers, and specialty dealers.

Founded in 1972, Louisiana-Pacific is headquartered in Nashville, Tennessee.