Louisiana-Pacific Corporation $LPX Position Increased by TD Asset Management Inc

TD Asset Management Inc raised its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 19.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,690 shares of the building manufacturing company’s stock after purchasing an additional 3,706 shares during the period. TD Asset Management Inc’s holdings in Louisiana-Pacific were worth $1,951,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LPX. Valeo Financial Advisors LLC increased its stake in Louisiana-Pacific by 33,243.5% during the second quarter. Valeo Financial Advisors LLC now owns 2,588,787 shares of the building manufacturing company’s stock valued at $222,610,000 after purchasing an additional 2,581,023 shares during the last quarter. 59 North Capital Management LP increased its stake in Louisiana-Pacific by 32.1% during the first quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company’s stock valued at $240,863,000 after purchasing an additional 635,817 shares during the last quarter. Palestra Capital Management LLC increased its stake in Louisiana-Pacific by 173.5% during the first quarter. Palestra Capital Management LLC now owns 911,621 shares of the building manufacturing company’s stock valued at $83,851,000 after purchasing an additional 578,248 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Louisiana-Pacific by 252.2% during the first quarter. Allianz Asset Management GmbH now owns 682,164 shares of the building manufacturing company’s stock valued at $62,746,000 after purchasing an additional 488,458 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Louisiana-Pacific during the first quarter valued at $25,409,000. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LPX. Vertical Research began coverage on shares of Louisiana-Pacific in a research note on Monday. They set a “buy” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Louisiana-Pacific in a research report on Wednesday, October 8th. Truist Financial lowered their price target on shares of Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, July 11th. DA Davidson restated a “buy” rating and set a $117.00 price target on shares of Louisiana-Pacific in a research report on Thursday, September 25th. Finally, Wall Street Zen lowered shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Sunday, August 3rd. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $110.57.

Louisiana-Pacific Stock Performance

Shares of LPX opened at $92.84 on Wednesday. The firm has a 50-day moving average price of $92.86 and a 200 day moving average price of $90.55. The firm has a market capitalization of $6.47 billion, a PE ratio of 21.90, a P/E/G ratio of 2.08 and a beta of 1.80. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Corporation has a 52-week low of $78.82 and a 52-week high of $122.87.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, August 6th. The building manufacturing company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $751.15 million. Louisiana-Pacific had a net margin of 10.34% and a return on equity of 18.67%. Louisiana-Pacific’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.09 EPS. On average, sell-side analysts anticipate that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 15th. Louisiana-Pacific’s dividend payout ratio is currently 26.42%.

Insider Transactions at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 500 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $101.00, for a total value of $50,500.00. Following the completion of the transaction, the director owned 29,728 shares in the company, valued at $3,002,528. This represents a 1.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by corporate insiders.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.