Fifth Third Bancorp Buys 26,186 Shares of Louisiana-Pacific Corporation $LPX

Fifth Third Bancorp grew its position in Louisiana-Pacific Corporation (NYSE:LPX) by 749.2% during the 1st quarter, HoldingsChannel reports. The firm owned 29,681 shares of the building manufacturing company’s stock after purchasing an additional 26,186 shares during the quarter. Fifth Third Bancorp’s holdings in Louisiana-Pacific were worth $2,159,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LPX. Millennium Management LLC grew its holdings in shares of Louisiana-Pacific by 128.6% in the 1st 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 during the period. Dynamic Technology Lab Private Ltd acquired a new position in Louisiana-Pacific in the first quarter valued at about $273,000. Goldman Sachs Group Inc. increased its holdings in shares of Louisiana-Pacific by 7.2% in the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock worth $25,274,000 after acquiring an additional 18,413 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Louisiana-Pacific by 207.1% in the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock worth $2,596,000 after acquiring an additional 19,029 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Louisiana-Pacific by 15.2% during the first 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 purchasing an additional 29,846 shares during the period. 94.73% of the stock is owned by institutional investors.

Louisiana-Pacific Stock Down 1.7%

Louisiana-Pacific stock opened at $70.12 on Wednesday. The firm has a market capitalization of $4.90 billion, a PE ratio of 59.43, a P/E/G ratio of 2.25 and a beta of 1.60. The company’s 50-day moving average is $74.44 and its 200-day moving average is $78.79. Louisiana-Pacific Corporation has a fifty-two week low of $66.12 and a fifty-two week high of $102.86. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.26 and a quick ratio of 1.48.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The business had revenue of $574.00 million during the quarter, compared to the consensus estimate of $569.99 million. During the same period last year, the business posted $1.27 EPS. Louisiana-Pacific’s revenue was down 20.7% on a year-over-year basis. Sell-side analysts anticipate that Louisiana-Pacific Corporation will post 1.93 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were issued 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 1.7%. Louisiana-Pacific’s payout ratio is presently 101.69%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD increased their target price on Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Oppenheimer lowered their price objective on shares of Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Zacks Research lowered shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. TD Securities raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 7th. Finally, Barclays upped their target price on shares of Louisiana-Pacific from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.80.

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.