Hsbc Holdings PLC Purchases 10,661 Shares of Louisiana-Pacific Corporation $LPX

Hsbc Holdings PLC raised its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 94.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 21,916 shares of the building manufacturing company’s stock after buying an additional 10,661 shares during the period. Hsbc Holdings PLC’s holdings in Louisiana-Pacific were worth $1,781,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Boston Partners purchased a new stake in shares of Louisiana-Pacific during the third quarter worth about $100,770,000. Capital Research Global Investors increased its holdings in Louisiana-Pacific by 306.2% in the 4th quarter. Capital Research Global Investors now owns 1,273,497 shares of the building manufacturing company’s stock valued at $102,848,000 after acquiring an additional 960,000 shares during the last quarter. Eminence Capital LP lifted its stake in Louisiana-Pacific by 29.9% in the 4th quarter. Eminence Capital LP now owns 4,048,136 shares of the building manufacturing company’s stock worth $326,927,000 after purchasing an additional 932,177 shares in the last quarter. Norges Bank purchased a new stake in Louisiana-Pacific in the 4th quarter worth $60,184,000. Finally, 59 North Capital Management LP boosted its holdings in shares of Louisiana-Pacific by 26.3% during the 4th quarter. 59 North Capital Management LP now owns 3,536,884 shares of the building manufacturing company’s stock valued at $285,639,000 after purchasing an additional 737,406 shares during the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Price Performance

Shares of LPX stock opened at $78.85 on Wednesday. The stock has a 50 day moving average price of $74.07 and a 200 day moving average price of $79.72. The firm has a market capitalization of $5.51 billion, a P/E ratio of 66.82, a P/E/G ratio of 2.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.48 and a current ratio of 3.26. Louisiana-Pacific Corporation has a 52-week low of $66.12 and a 52-week high of $102.86.

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. The business had revenue of $574.00 million during 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 business’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period last year, the company earned $1.27 earnings per share. As a group, sell-side analysts predict that Louisiana-Pacific Corporation will post 2 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. Louisiana-Pacific’s dividend payout ratio (DPR) is 101.69%.

Analyst Ratings Changes

LPX has been the topic of a number of research analyst reports. Barclays decreased their target price 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. Oppenheimer reduced their price target on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Truist Financial reaffirmed a “buy” rating and set a $93.00 price target (down from $95.00) on shares of Louisiana-Pacific in a research note on Friday, May 8th. TD upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.78.

Louisiana-Pacific Company Profile

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.