Louisiana-Pacific (NYSE:LPX) Trading Up 6.6% After Dividend Announcement

Louisiana-Pacific Co. (NYSE:LPX) traded up 6.6% during trading on Tuesday after the company announced a dividend. The stock traded as high as $108.61 and last traded at $107.81. 145,986 shares were traded during mid-day trading, a decline of 83% from the average session volume of 840,850 shares. The stock had previously closed at $101.14.

The newly announced dividend which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, November 20th. Louisiana-Pacific’s payout ratio is presently 16.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America increased their price target on Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. Truist Financial increased their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. The Goldman Sachs Group raised their price objective on Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a research note on Wednesday. TD Securities raised their price objective on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, StockNews.com raised Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Saturday, November 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $101.78.

Louisiana-Pacific Price Performance

The company has a current ratio of 3.38, a quick ratio of 1.95 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $7.60 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 4.63 and a beta of 1.88. The stock has a 50 day moving average of $101.89 and a 200-day moving average of $92.98.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.23. Louisiana-Pacific had a return on equity of 27.09% and a net margin of 15.22%. The firm had revenue of $814.00 million during the quarter, compared to analyst estimates of $797.26 million. During the same period last year, the company earned $0.55 EPS. Louisiana-Pacific’s quarterly revenue was up 33.2% compared to the same quarter last year. On average, equities research analysts anticipate that Louisiana-Pacific Co. will post 5.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the completion of the sale, the director now directly owns 21,005 shares of the company’s stock, valued at $2,064,791.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the completion of the sale, the director now directly owns 21,005 shares of the company’s stock, valued at $2,064,791.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William Bradley Southern sold 32,600 shares of Louisiana-Pacific stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total value of $3,046,144.00. Following the sale, the chief executive officer now directly owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,900 shares of company stock valued at $3,368,774. Insiders own 1.53% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. CWM LLC raised its position in shares of Louisiana-Pacific by 4.3% in the 3rd quarter. CWM LLC now owns 2,376 shares of the building manufacturing company’s stock worth $255,000 after acquiring an additional 97 shares in the last quarter. Gateway Investment Advisers LLC raised its position in shares of Louisiana-Pacific by 4.0% in the 3rd quarter. Gateway Investment Advisers LLC now owns 2,603 shares of the building manufacturing company’s stock worth $280,000 after acquiring an additional 99 shares in the last quarter. Hanseatic Management Services Inc. raised its position in shares of Louisiana-Pacific by 23.3% in the 3rd quarter. Hanseatic Management Services Inc. now owns 835 shares of the building manufacturing company’s stock worth $90,000 after acquiring an additional 158 shares in the last quarter. Covestor Ltd raised its position in shares of Louisiana-Pacific by 61.0% in the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock worth $46,000 after acquiring an additional 163 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Louisiana-Pacific by 1.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,027 shares of the building manufacturing company’s stock worth $1,237,000 after acquiring an additional 167 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

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.