Louisiana-Pacific Corporation $LPX Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 17.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,349 shares of the building manufacturing company’s stock after selling 29,878 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Louisiana-Pacific were worth $10,349,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. increased its stake in Louisiana-Pacific by 5.1% during the first quarter. D.A. Davidson & CO. now owns 35,303 shares of the building manufacturing company’s stock worth $2,568,000 after purchasing an additional 1,728 shares during the period. State of Michigan Retirement System boosted its stake in shares of Louisiana-Pacific by 2.0% in the first quarter. State of Michigan Retirement System now owns 15,258 shares of the building manufacturing company’s stock valued at $1,110,000 after purchasing an additional 300 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Louisiana-Pacific by 20.5% in the first quarter. Principal Financial Group Inc. now owns 497,852 shares of the building manufacturing company’s stock valued at $36,219,000 after purchasing an additional 84,661 shares during the period. Fifth Third Bancorp grew its holdings in shares of Louisiana-Pacific by 749.2% in the first quarter. Fifth Third Bancorp now owns 29,681 shares of the building manufacturing company’s stock valued at $2,159,000 after purchasing an additional 26,186 shares in the last quarter. Finally, Simplicity Wealth LLC grew its holdings in shares of Louisiana-Pacific by 29.4% in the first quarter. Simplicity Wealth LLC now owns 7,384 shares of the building manufacturing company’s stock valued at $537,000 after purchasing an additional 1,678 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Louisiana-Pacific Stock Up 3.2%

Shares of NYSE:LPX opened at $72.49 on Thursday. Louisiana-Pacific Corporation has a fifty-two week low of $66.12 and a fifty-two week high of $102.86. The firm’s 50 day moving average price is $74.48 and its 200 day moving average price is $78.73. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of 61.43, a price-to-earnings-growth ratio of 2.21 and a beta of 1.60.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results 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. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The company had revenue of $574.00 million during the quarter, compared to analysts’ expectations of $569.99 million. During the same quarter in the previous year, the business posted $1.27 EPS. The firm’s revenue was down 20.7% on a year-over-year basis. As a group, equities research analysts predict that Louisiana-Pacific Corporation will post 1.93 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were paid a dividend of $0.30 per share. The ex-dividend date 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

LPX has been the topic of a number of research reports. Barclays increased their target price on shares of Louisiana-Pacific from $89.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. BMO Capital Markets upgraded shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price target for the company in a research note on Thursday, May 7th. Bank of America upped their price objective on Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Oppenheimer reduced their price objective on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Finally, DA Davidson reiterated a “buy” rating and issued a $114.00 target price on shares of Louisiana-Pacific in a report on Tuesday, May 5th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.80.

Louisiana-Pacific 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.