Louisiana-Pacific Corporation (NYSE:LPX) Short Interest Up 14.5% in February
by Danessa Lincoln · The Markets DailyLouisiana-Pacific Corporation (NYSE:LPX – Get Free Report) saw a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 4,737,513 shares, an increase of 14.5% from the February 12th total of 4,137,082 shares. Approximately 6.9% of the shares of the company are short sold. Based on an average daily volume of 1,453,001 shares, the short-interest ratio is presently 3.3 days. Based on an average daily volume of 1,453,001 shares, the short-interest ratio is presently 3.3 days. Approximately 6.9% of the shares of the company are short sold.
Louisiana-Pacific Price Performance
Louisiana-Pacific stock traded up $1.33 during mid-day trading on Tuesday, reaching $77.07. The company had a trading volume of 426,270 shares, compared to its average volume of 1,151,443. The stock’s 50-day simple moving average is $87.17 and its 200-day simple moving average is $86.55. The company has a market capitalization of $5.38 billion, a P/E ratio of 36.88 and a beta of 1.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.78 and a quick ratio of 1.53. Louisiana-Pacific has a 1 year low of $73.42 and a 1 year high of $102.86.
Louisiana-Pacific (NYSE:LPX – Get Free Report) last released its quarterly earnings results on Tuesday, February 17th. The building manufacturing company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.09. Louisiana-Pacific had a net margin of 5.39% and a return on equity of 10.72%. The business had revenue of $567.00 million for the quarter, compared to analyst estimates of $589.96 million. During the same period in the prior year, the business earned $1.03 earnings per share. The company’s quarterly revenue was down 16.7% on a year-over-year basis. On average, equities analysts predict that Louisiana-Pacific will post 5.27 EPS for the current year.
Louisiana-Pacific Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. Louisiana-Pacific’s payout ratio is currently 53.59%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on LPX shares. DA Davidson reduced their price target on Louisiana-Pacific from $117.00 to $114.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Truist Financial raised their price objective on Louisiana-Pacific from $102.00 to $108.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Oppenheimer reaffirmed an “outperform” rating on shares of Louisiana-Pacific in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Louisiana-Pacific in a research report on Monday, December 29th. Finally, Barclays lifted their price target on shares of Louisiana-Pacific from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $105.83.
Get Our Latest Analysis on Louisiana-Pacific
Insider Activity at Louisiana-Pacific
In other news, Director Lizanne M. Bruce sold 1,300 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $78.59, for a total value of $102,167.00. Following the completion of the transaction, the director directly owned 17,160 shares in the company, valued at $1,348,604.40. This trade represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director F Nicholas Grasberger III bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were purchased at an average cost of $85.49 per share, with a total value of $1,709,800.00. Following the acquisition, the director directly owned 38,954 shares of the company’s stock, valued at approximately $3,330,177.46. This trade represents a 105.52% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 113,310 shares of company stock valued at $10,235,781 in the last ninety days. Company insiders own 1.42% of the company’s stock.
Institutional Trading of Louisiana-Pacific
A number of hedge funds have recently added to or reduced their stakes in the business. North Ridge Wealth Advisors Inc. purchased a new position in shares of Louisiana-Pacific in the 2nd quarter valued at $26,000. Los Angeles Capital Management LLC acquired a new stake in Louisiana-Pacific in the 4th quarter valued at $29,000. Versant Capital Management Inc raised its position in Louisiana-Pacific by 34.3% in the third quarter. Versant Capital Management Inc now owns 497 shares of the building manufacturing company’s stock valued at $44,000 after purchasing an additional 127 shares during the period. Larson Financial Group LLC lifted its stake 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 in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Louisiana-Pacific in the fourth quarter worth about $52,000. 94.73% of the stock is owned by institutional investors and hedge funds.
Louisiana-Pacific Company 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.