Eminence Capital LP Raises Stake in Louisiana-Pacific Corporation $LPX

Eminence Capital LP increased its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 29.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,048,136 shares of the building manufacturing company’s stock after buying an additional 932,177 shares during the period. Louisiana-Pacific accounts for about 5.2% of Eminence Capital LP’s portfolio, making the stock its 3rd largest holding. Eminence Capital LP owned 5.81% of Louisiana-Pacific worth $326,927,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Millennium Management LLC grew its position in shares of Louisiana-Pacific by 128.6% in the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock valued at $16,259,000 after purchasing an additional 99,455 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Louisiana-Pacific in the 1st quarter valued at $273,000. Goldman Sachs Group Inc. grew 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 buying an additional 18,413 shares in the last quarter. Empowered Funds LLC increased its position in 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 buying an additional 19,029 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 worth $20,747,000 after buying an additional 29,846 shares during the period. 94.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Securities raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. BMO Capital Markets upgraded shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a research note on Thursday, May 7th. TD raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Thursday, May 7th. Truist Financial restated a “buy” rating and set a $93.00 target price (down from $95.00) on shares of Louisiana-Pacific in a research report on Friday, May 8th. Finally, Zacks Research raised shares of Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.25.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX opened at $75.34 on Thursday. The firm has a 50 day moving average of $73.31 and a 200-day moving average of $80.02. Louisiana-Pacific Corporation has a 12 month low of $66.12 and a 12 month high of $102.86. 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 stock has a market capitalization of $5.26 billion, a PE ratio of 63.85, a PEG ratio of 1.94 and a beta of 1.59.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.24. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The firm had revenue of $574.00 million during the quarter, compared to analysts’ expectations of $569.99 million. During the same period in the prior year, the company earned $1.27 earnings per share. The company’s quarterly revenue was down 20.7% on a year-over-year basis. On average, equities research analysts predict that Louisiana-Pacific Corporation will post 2 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Thursday, May 14th. Louisiana-Pacific’s payout ratio is currently 101.69%.

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.