Amalgamated Bank lowered its stake in shares of Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 3.2% during the first quarter, HoldingsChannel reports. The firm owned 61,284 shares of the building manufacturing company’s stock after selling 2,026 shares during the quarter. Amalgamated Bank’s holdings in Louisiana-Pacific were worth $3,807,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in LPX. Zions Bancorporation N.A. bought a new stake in shares of Louisiana-Pacific during the 1st quarter worth approximately $25,000. TCI Wealth Advisors Inc. acquired a new position in shares of Louisiana-Pacific during the 1st quarter worth approximately $39,000. Ahrens Investment Partners LLC acquired a new position in shares of Louisiana-Pacific during the 1st quarter worth approximately $40,000. Rather & Kittrell Inc. acquired a new position in shares of Louisiana-Pacific during the 4th quarter worth approximately $43,000. Finally, Ellevest Inc. increased its holdings in shares of Louisiana-Pacific by 51.6% during the 1st quarter. Ellevest Inc. now owns 1,234 shares of the building manufacturing company’s stock worth $77,000 after acquiring an additional 420 shares during the last quarter. Institutional investors own 91.07% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on LPX. DA Davidson boosted their target price on Louisiana-Pacific to $70.00 in a report on Monday, August 15th. TD Securities decreased their target price on Louisiana-Pacific from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Truist Financial began coverage on Louisiana-Pacific in a report on Wednesday, June 29th. They set a “hold” rating and a $57.00 target price on the stock. Bank of America lowered Louisiana-Pacific from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $64.00 to $56.00 in a report on Tuesday. Finally, The Goldman Sachs Group decreased their target price on Louisiana-Pacific from $90.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $67.50.
Louisiana-Pacific Stock Performance
Louisiana-Pacific (NYSE:LPX – Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The building manufacturing company reported $4.19 EPS for the quarter, missing analysts’ consensus estimates of $4.38 by ($0.19). The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.26 billion. Louisiana-Pacific had a net margin of 30.50% and a return on equity of 94.18%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.74 earnings per share. On average, equities analysts forecast that Louisiana-Pacific Co. will post 12.99 EPS for the current year.
Louisiana-Pacific Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Wednesday, August 17th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 5.37%.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.
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