Louisiana-Pacific (NYSE:LPX) Downgraded by BMO Capital Markets to “Market Perform”

BMO Capital Markets lowered shares of Louisiana-Pacific (NYSE:LPX) from an outperform rating to a market perform rating in a report released on Thursday morning, MarketBeat.com reports. They currently have $99.00 price objective on the building manufacturing company’s stock.

LPX has been the subject of a number of other reports. TD Securities raised their price target on Louisiana-Pacific from $87.00 to $90.00 and gave the stock a hold rating in a report on Thursday, May 9th. Seaport Res Ptn lowered shares of Louisiana-Pacific from a buy rating to a neutral rating in a report on Thursday, May 9th. DA Davidson raised their price target on shares of Louisiana-Pacific from $98.00 to $110.00 and gave the company a buy rating in a report on Friday, June 14th. StockNews.com lowered Louisiana-Pacific from a buy rating to a hold rating in a research note on Thursday, July 11th. Finally, Loop Capital started coverage on Louisiana-Pacific in a report on Friday, May 3rd. They issued a hold rating and a $82.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Louisiana-Pacific currently has an average rating of Hold and an average price target of $94.88.

Louisiana-Pacific Stock Performance

Shares of LPX stock traded down $0.43 during trading hours on Thursday, hitting $95.37. 631,628 shares of the company were exchanged, compared to its average volume of 936,760. Louisiana-Pacific has a 52-week low of $49.47 and a 52-week high of $101.89. The company has a current ratio of 3.32, a quick ratio of 1.75 and a debt-to-equity ratio of 0.21. The firm has a fifty day simple moving average of $89.23 and a 200 day simple moving average of $81.13. The stock has a market capitalization of $6.84 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 13.92 and a beta of 1.89.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.23. The business had revenue of $814.00 million for the quarter, compared to analysts’ expectations of $797.26 million. Louisiana-Pacific had a return on equity of 20.87% and a net margin of 9.74%. The firm’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.55 EPS. Research analysts predict that Louisiana-Pacific will post 5.23 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Tuesday, August 20th. Louisiana-Pacific’s dividend payout ratio is presently 28.57%.

Insider Activity at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 800 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $96.10, for a total transaction of $76,880.00. Following the transaction, the director now directly owns 29,008 shares of the company’s stock, valued at $2,787,668.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Lizanne C. Gottung sold 3,591 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $89.18, for a total value of $320,245.38. Following the completion of the transaction, the director now owns 23,501 shares of the company’s stock, valued at approximately $2,095,819.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ozey K. Horton, Jr. sold 800 shares of Louisiana-Pacific stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $96.10, for a total value of $76,880.00. Following the sale, the director now owns 29,008 shares in the company, valued at $2,787,668.80. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Institutional Trading of Louisiana-Pacific

A number of hedge funds have recently modified their holdings of LPX. Allspring Global Investments Holdings LLC increased its position in Louisiana-Pacific by 48,193.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 162,267 shares of the building manufacturing company’s stock valued at $13,616,000 after acquiring an additional 161,931 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Louisiana-Pacific by 3.5% during the 1st quarter. Russell Investments Group Ltd. now owns 215,051 shares of the building manufacturing company’s stock valued at $18,045,000 after buying an additional 7,367 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Louisiana-Pacific by 83.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,563,117 shares of the building manufacturing company’s stock worth $110,717,000 after buying an additional 712,671 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in Louisiana-Pacific by 16.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 46,648 shares of the building manufacturing company’s stock worth $3,914,000 after buying an additional 6,533 shares during the period. Finally, Duality Advisers LP increased its stake in Louisiana-Pacific by 84.5% in the 4th quarter. Duality Advisers LP now owns 25,638 shares of the building manufacturing company’s stock worth $1,816,000 after buying an additional 11,740 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.