Louisiana-Pacific (NYSE:LPX) Releases Earnings Results, Misses Expectations By $0.01 EPS

Louisiana-Pacific (NYSE:LPX) issued its quarterly earnings data on Wednesday. The building manufacturing company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01), Zacks reports. Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The firm had revenue of $663.00 million during the quarter, compared to analyst estimates of $670.26 million. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Louisiana-Pacific’s quarterly revenue was down 8.2% compared to the same quarter last year.

Louisiana-Pacific Stock Down 8.1%

Shares of NYSE:LPX traded down $6.94 during midday trading on Wednesday, reaching $78.39. 3,347,895 shares of the company were exchanged, compared to its average volume of 761,060. Louisiana-Pacific has a fifty-two week low of $78.03 and a fifty-two week high of $122.87. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 0.20. The stock has a fifty day simple moving average of $91.15 and a two-hundred day simple moving average of $90.93. The firm has a market cap of $5.46 billion, a PE ratio of 18.49 and a beta of 1.80.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 14th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 26.42%.

Analyst Upgrades and Downgrades

LPX has been the topic of a number of research reports. DA Davidson reaffirmed a “buy” rating and set a $117.00 target price on shares of Louisiana-Pacific in a research report on Thursday, September 25th. Truist Financial lowered their price target on shares of Louisiana-Pacific from $111.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, July 11th. Wall Street Zen downgraded shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. Vertical Research assumed coverage on shares of Louisiana-Pacific in a research note on Monday, October 20th. They issued a “buy” rating on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Louisiana-Pacific in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $110.57.

Insider Activity at Louisiana-Pacific

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

Institutional Investors Weigh In On Louisiana-Pacific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its position in shares of Louisiana-Pacific by 207.1% during the 1st quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock worth $2,596,000 after purchasing an additional 19,029 shares in the last quarter. Occudo Quantitative Strategies LP lifted its holdings in shares of Louisiana-Pacific by 24.8% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 25,110 shares of the building manufacturing company’s stock worth $2,159,000 after acquiring an additional 4,991 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Louisiana-Pacific during the 2nd quarter worth approximately $1,862,000. Brevan Howard Capital Management LP bought a new stake in shares of Louisiana-Pacific during the 2nd quarter worth approximately $1,754,000. Finally, FORA Capital LLC bought a new stake in shares of Louisiana-Pacific during the 2nd quarter worth approximately $839,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

About Louisiana-Pacific

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.