Louisiana-Pacific (NYSE:LPX) Sets New 52-Week Low – Here’s Why
by Teresa Graham · The Cerbat GemLouisiana-Pacific Corporation (NYSE:LPX – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $68.81 and last traded at $68.9090, with a volume of 303080 shares traded. The stock had previously closed at $71.26.
Wall Street Analysts Forecast Growth
LPX has been the subject of several recent analyst reports. Barclays lowered their target price on shares of Louisiana-Pacific from $104.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Zacks Research lowered Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. DA Davidson dropped their target price on Louisiana-Pacific from $117.00 to $114.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. BMO Capital Markets reduced their target price on Louisiana-Pacific from $98.00 to $94.00 and set a “market perform” rating on the stock in a research report on Monday, April 20th. Finally, Truist Financial increased their price target on Louisiana-Pacific from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Louisiana-Pacific has a consensus rating of “Hold” and a consensus target price of $101.57.
Get Our Latest Research Report on LPX
Louisiana-Pacific Trading Down 3.3%
The stock’s fifty day simple moving average is $75.75 and its 200-day simple moving average is $82.39. The firm has a market cap of $4.81 billion, a PE ratio of 32.97, a PEG ratio of 1.09 and a beta of 1.60. 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 (NYSE:LPX – Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The building manufacturing company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.09. The firm had revenue of $567.00 million for the quarter, compared to analyst estimates of $589.96 million. Louisiana-Pacific had a net margin of 5.39% and a return on equity of 10.72%. The business’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. On average, sell-side analysts forecast that Louisiana-Pacific Corporation will post 2.7 earnings per share for the current year.
Louisiana-Pacific Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, May 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Thursday, May 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 53.59%.
Insider Buying and Selling
In other Louisiana-Pacific news, Director Lizanne M. Bruce sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $78.59, for a total transaction of $102,167.00. Following the completion of the transaction, the director directly owned 17,160 shares of the company’s stock, valued at approximately $1,348,604.40. This trade represents a 7.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director F Nicholas Grasberger III acquired 20,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were acquired at an average price of $85.49 per share, with a total value of $1,709,800.00. Following the completion of the purchase, the director owned 38,954 shares in the company, valued at approximately $3,330,177.46. This trade represents a 105.52% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 36,718 shares of company stock valued at $3,241,263 over the last quarter. 0.65% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in Louisiana-Pacific by 34.3% during 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. Wilmington Savings Fund Society FSB raised its stake in shares of Louisiana-Pacific by 4.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 3,139 shares of the building manufacturing company’s stock valued at $279,000 after buying an additional 136 shares during the last quarter. Elo Mutual Pension Insurance Co raised its stake in shares of Louisiana-Pacific by 1.5% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 11,524 shares of the building manufacturing company’s stock valued at $1,024,000 after buying an additional 166 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Louisiana-Pacific by 2.7% in the 3rd quarter. WINTON GROUP Ltd now owns 6,877 shares of the building manufacturing company’s stock valued at $611,000 after buying an additional 183 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Louisiana-Pacific by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the building manufacturing company’s stock worth $1,564,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.
About Louisiana-Pacific
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.