Bank of New York Mellon Corp Has $66.35 Million Holdings in Louisiana-Pacific Corporation $LPX

Bank of New York Mellon Corp lifted its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 821,609 shares of the building manufacturing company’s stock after buying an additional 50,792 shares during the period. Bank of New York Mellon Corp’s holdings in Louisiana-Pacific were worth $66,353,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC grew its position in Louisiana-Pacific by 128.6% during the 1st quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock worth $16,259,000 after acquiring an additional 99,455 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Louisiana-Pacific in the 1st quarter valued at $273,000. Goldman Sachs Group Inc. boosted its position 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 during the last quarter. Empowered Funds LLC boosted its position 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 buying 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 Louisiana-Pacific by 15.2% in 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 buying an additional 29,846 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. DA Davidson reiterated a “buy” rating and issued a $114.00 price objective on shares of Louisiana-Pacific in a research report on Tuesday, May 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $104.00 price target on shares of Louisiana-Pacific in a research report on Wednesday, February 18th. Weiss Ratings upgraded Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Barclays reduced their price target on Louisiana-Pacific from $90.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Zacks Research upgraded Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Louisiana-Pacific currently has an average rating of “Moderate Buy” and a consensus target price of $97.25.

Louisiana-Pacific Stock Performance

Shares of Louisiana-Pacific stock opened at $72.62 on Wednesday. The company has a market capitalization of $5.07 billion, a PE ratio of 61.54, a PEG ratio of 1.76 and a beta of 1.59. 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’s fifty day simple moving average is $72.85 and its 200 day simple moving average is $80.17.

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

Louisiana-Pacific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Louisiana-Pacific’s dividend payout ratio (DPR) 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.