Louisiana-Pacific Co. (LPX) to Issue Quarterly Dividend of $0.28 on June 3rd

Louisiana-Pacific Co. (NYSE:LPX) announced a quarterly dividend on Wednesday, May 7th, Wall Street Journal reports. Shareholders of record on Tuesday, May 20th will be paid a dividend of 0.28 per share by the building manufacturing company on Tuesday, June 3rd. This represents a $1.12 annualized dividend and a yield of 1.17%. The ex-dividend date is Tuesday, May 20th.

Louisiana-Pacific has increased its dividend payment by an average of 15.2% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Louisiana-Pacific has a payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Louisiana-Pacific to earn $6.50 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 17.2%.

Louisiana-Pacific Trading Up 2.0%

Shares of NYSE LPX opened at $95.35 on Friday. The business’s 50 day moving average is $89.16 and its two-hundred day moving average is $102.46. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.86 and a quick ratio of 1.69. Louisiana-Pacific has a 1-year low of $78.82 and a 1-year high of $122.87. The stock has a market capitalization of $6.64 billion, a P/E ratio of 16.22, a PEG ratio of 1.24 and a beta of 1.94.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Tuesday, May 6th. The building manufacturing company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The company had revenue of $724.00 million for the quarter, compared to analysts’ expectations of $711.66 million. During the same period in the previous year, the firm posted $1.53 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, research analysts expect that Louisiana-Pacific will post 5.27 EPS for the current year.

Institutional Trading of Louisiana-Pacific

A number of large investors have recently modified their holdings of LPX. Millennium Management LLC boosted its holdings in shares of Louisiana-Pacific by 128.6% in the first quarter. Millennium Management LLC now owns 176,762 shares of the building manufacturing company’s stock valued at $16,259,000 after purchasing an additional 99,455 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Louisiana-Pacific in the first quarter valued at approximately $273,000. Goldman Sachs Group Inc. lifted its holdings in Louisiana-Pacific by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 274,776 shares of the building manufacturing company’s stock worth $25,274,000 after buying an additional 18,413 shares during the period. Finally, Empowered Funds LLC lifted its holdings in Louisiana-Pacific by 207.1% during the first quarter. Empowered Funds LLC now owns 28,219 shares of the building manufacturing company’s stock worth $2,596,000 after buying an additional 19,029 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on LPX shares. Royal Bank of Canada upped their target price on Louisiana-Pacific from $114.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. TD Securities cut their target price on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Truist Financial cut their target price on Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. Loop Capital raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Wednesday, May 7th. Finally, DA Davidson cut their target price on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Louisiana-Pacific has a consensus rating of “Hold” and a consensus target price of $107.38.

Louisiana-Pacific Company Profile

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.