Louisiana-Pacific (NYSE:LPX) Sets New 1-Year Low – Time to Sell?

Louisiana-Pacific Corporation (NYSE:LPX) reached a new 52-week low during trading on Thursday . The company traded as low as $73.15 and last traded at $73.27, with a volume of 72405 shares trading hands. The stock had previously closed at $75.16.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LPX shares. Truist Financial boosted their target price on shares of Louisiana-Pacific from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $104.00 price target on shares of Louisiana-Pacific in a research report on Wednesday, February 18th. Oppenheimer reiterated an “outperform” rating on shares of Louisiana-Pacific in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Louisiana-Pacific in a report on Monday, December 29th. Finally, Barclays upped their price objective on Louisiana-Pacific from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $105.83.

Louisiana-Pacific Stock Down 3.6%

The firm’s 50 day simple moving average is $86.92 and its 200 day simple moving average is $86.35. The company has a market cap of $5.06 billion, a price-to-earnings ratio of 34.78 and a beta of 1.78. The company has a quick ratio of 1.53, a current ratio of 2.78 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Tuesday, February 17th. The building manufacturing company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.09. Louisiana-Pacific had a return on equity of 10.72% and a net margin of 5.39%.The business had revenue of $567.00 million during the quarter, compared to the consensus estimate of $589.96 million. During the same period in the previous year, the firm posted $1.03 earnings per share. The business’s revenue was down 16.7% on a year-over-year basis. Sell-side analysts anticipate that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, February 27th. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.28. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 53.59%.

Insiders Place Their Bets

In related news, CEO William Bradley Southern sold 55,346 shares of Louisiana-Pacific stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $91.66, for a total transaction of $5,073,014.36. Following the sale, the chief executive officer directly owned 503,381 shares in the company, valued at $46,139,902.46. The trade was a 9.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director F Nicholas Grasberger III acquired 20,000 shares of Louisiana-Pacific stock in a transaction that occurred on Thursday, February 19th. The stock was bought at an average cost of $85.49 per share, with a total value of $1,709,800.00. Following the acquisition, the director directly owned 38,954 shares of the company’s stock, valued at approximately $3,330,177.46. This trade represents a 105.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 113,310 shares of company stock worth $10,235,781. 1.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Louisiana-Pacific

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in Louisiana-Pacific by 128.6% during the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock valued at $16,259,000 after buying an additional 99,455 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Louisiana-Pacific in the first quarter worth about $273,000. Goldman Sachs Group Inc. lifted its holdings in Louisiana-Pacific by 7.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock valued at $25,274,000 after acquiring an additional 18,413 shares during the last quarter. Empowered Funds LLC lifted its holdings in Louisiana-Pacific by 207.1% in the 1st quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock valued at $2,596,000 after acquiring an additional 19,029 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Louisiana-Pacific by 15.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,565 shares of the building manufacturing company’s stock valued at $20,747,000 after purchasing an additional 29,846 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

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.