59 North Capital Management LP Raises Position in Louisiana-Pacific Corporation $LPX

59 North Capital Management LP lifted its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 26.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,536,884 shares of the building manufacturing company’s stock after purchasing an additional 737,406 shares during the period. Louisiana-Pacific comprises about 8.9% of 59 North Capital Management LP’s investment portfolio, making the stock its 5th biggest holding. 59 North Capital Management LP owned about 5.08% of Louisiana-Pacific worth $285,639,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. North Ridge Wealth Advisors Inc. bought a new position in shares of Louisiana-Pacific during the second quarter worth about $26,000. Los Angeles Capital Management LLC bought a new position in shares of Louisiana-Pacific during the fourth quarter worth about $29,000. Larson Financial Group LLC lifted its position in shares of Louisiana-Pacific by 291.2% during the third quarter. Larson Financial Group LLC now owns 536 shares of the building manufacturing company’s stock worth $48,000 after purchasing an additional 399 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Louisiana-Pacific during the fourth quarter worth about $52,000. Finally, Danske Bank A S bought a new position in shares of Louisiana-Pacific during the third quarter worth about $80,000. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX opened at $75.34 on Thursday. The firm’s 50 day moving average is $73.31 and its two-hundred day moving average is $80.02. Louisiana-Pacific Corporation has a 52 week low of $66.12 and a 52 week high of $102.86. The firm has a market capitalization of $5.26 billion, a P/E ratio of 63.85, a PEG ratio of 1.94 and a beta of 1.59. The company has a current ratio of 3.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.20.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 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 company had revenue of $574.00 million for the quarter, compared to analyst estimates of $569.99 million. During the same quarter last year, the business earned $1.27 earnings per share. Louisiana-Pacific’s revenue was down 20.7% compared to the same quarter last year. Analysts anticipate that Louisiana-Pacific Corporation will post 2 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th were issued a $0.30 dividend. The ex-dividend date was Thursday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. Louisiana-Pacific’s dividend payout ratio (DPR) is 101.69%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. TD raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Thursday, May 7th. Truist Financial reiterated a “buy” rating and set a $93.00 price objective (down from $95.00) on shares of Louisiana-Pacific in a research note on Friday, May 8th. TD Securities upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Oppenheimer dropped their price objective on shares of 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, Weiss Ratings upgraded shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 8th. Nine investment 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.25.

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.