Louisiana-Pacific (NYSE:LPX) issued its quarterly earnings results on Tuesday. The construction company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.17, MarketWatch Earnings reports. The business had revenue of $736.80 million during the quarter, compared to analyst estimates of $724.92 million. Louisiana-Pacific had a net margin of 16.85% and a return on equity of 28.21%. Louisiana-Pacific’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share.
Shares of NYSE LPX traded up $0.71 during midday trading on Wednesday, reaching $24.16. 89,315 shares of the stock were exchanged, compared to its average volume of 2,826,537. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 1.67 and a beta of 1.61. Louisiana-Pacific has a 12 month low of $20.89 and a 12 month high of $32.16. The company has a quick ratio of 4.57, a current ratio of 5.68 and a debt-to-equity ratio of 0.20.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, November 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.15%. Louisiana-Pacific’s dividend payout ratio is 22.32%.
LPX has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a report on Friday, August 10th. ValuEngine lowered shares of Louisiana-Pacific from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. Seaport Global Securities initiated coverage on shares of Louisiana-Pacific in a report on Tuesday, October 23rd. They set a “buy” rating and a $31.00 target price for the company. BMO Capital Markets raised shares of Louisiana-Pacific from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $27.00 to $24.00 in a report on Monday, October 22nd. They noted that the move was a valuation call. Finally, Longbow Research reaffirmed a “hold” rating on shares of Louisiana-Pacific in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $32.13.
In other news, Director Lizanne C. Gottung sold 7,000 shares of Louisiana-Pacific stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $29.25, for a total transaction of $204,750.00. Following the transaction, the director now directly owns 18,115 shares of the company’s stock, valued at $529,863.75. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William Bradley Southern sold 12,042 shares of Louisiana-Pacific stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $31.00, for a total transaction of $373,302.00. Following the transaction, the chief executive officer now directly owns 196,518 shares in the company, valued at $6,092,058. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,287 shares of company stock worth $1,180,736. Insiders own 0.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in Louisiana-Pacific by 312.4% in the 3rd quarter. SG Americas Securities LLC now owns 240,964 shares of the construction company’s stock valued at $6,383,000 after acquiring an additional 182,539 shares in the last quarter. LSV Asset Management lifted its position in Louisiana-Pacific by 430.2% in the 3rd quarter. LSV Asset Management now owns 976,016 shares of the construction company’s stock valued at $25,854,000 after acquiring an additional 791,916 shares in the last quarter. ING Groep NV lifted its position in Louisiana-Pacific by 43.1% in the 3rd quarter. ING Groep NV now owns 21,817 shares of the construction company’s stock valued at $578,000 after acquiring an additional 6,571 shares in the last quarter. Stone Ridge Asset Management LLC lifted its position in Louisiana-Pacific by 6.6% in the 3rd quarter. Stone Ridge Asset Management LLC now owns 51,075 shares of the construction company’s stock valued at $1,353,000 after acquiring an additional 3,148 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Louisiana-Pacific in the 3rd quarter valued at $15,804,000. 92.63% of the stock is currently owned by institutional investors.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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