Longbow Research upgraded shares of Louisiana-Pacific (NYSE:LPX) from a neutral rating to a buy rating in a report issued on Monday, Benzinga reports. The firm currently has $32.00 price target on the building manufacturing company’s stock.
A number of other brokerages also recently issued reports on LPX. Stephens upgraded Louisiana-Pacific from an equal weight rating to an overweight rating and set a $32.00 price target on the stock in a research report on Friday, April 5th. ValuEngine upgraded Louisiana-Pacific from a sell rating to a hold rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded Louisiana-Pacific from a hold rating to a strong sell rating in a research report on Thursday, February 21st. Bank of America upgraded Louisiana-Pacific from a neutral rating to a buy rating and set a $24.75 price target on the stock in a research report on Tuesday, April 30th. Finally, TD Securities increased their price target on Louisiana-Pacific from $25.00 to $29.00 and gave the stock a hold rating in a research report on Thursday, February 14th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Louisiana-Pacific presently has an average rating of Buy and an average target price of $28.68.
Shares of LPX stock opened at $22.90 on Monday. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 3.01 and a beta of 1.37. The company has a current ratio of 3.55, a quick ratio of 2.25 and a debt-to-equity ratio of 0.28. Louisiana-Pacific has a 12-month low of $20.39 and a 12-month high of $32.16.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Tuesday, May 21st will be given a $0.135 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.54 annualized dividend and a dividend yield of 2.36%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 19.71%.
In other news, Director Gary Cook sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $24.76, for a total value of $99,040.00. Following the transaction, the director now owns 52,139 shares in the company, valued at $1,290,961.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lavaca Capital LLC purchased a new position in shares of Louisiana-Pacific in the fourth quarter valued at approximately $29,000. Valeo Financial Advisors LLC purchased a new position in shares of Louisiana-Pacific in the first quarter valued at approximately $45,000. Oregon Public Employees Retirement Fund increased its holdings in shares of Louisiana-Pacific by 2,122.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,268,318 shares of the building manufacturing company’s stock valued at $57,000 after purchasing an additional 1,211,238 shares during the last quarter. Toronto Dominion Bank increased its holdings in shares of Louisiana-Pacific by 28.5% in the fourth quarter. Toronto Dominion Bank now owns 2,570 shares of the building manufacturing company’s stock valued at $57,000 after purchasing an additional 570 shares during the last quarter. Finally, Baker Ellis Asset Management LLC acquired a new stake in shares of Louisiana-Pacific in the first quarter valued at approximately $134,000. Institutional investors and hedge funds own 98.88% of the company’s stock.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in 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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