Louisiana-Pacific Sees Unusually High Options Volume (NYSE:LPX)

Share on StockTwits

Louisiana-Pacific Co. (NYSE:LPX) saw some unusual options trading on Wednesday. Traders bought 1,254 put options on the company. This represents an increase of approximately 2,139% compared to the average volume of 56 put options.

A number of research firms have commented on LPX. BMO Capital Markets upgraded Louisiana-Pacific from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $26.00 to $28.00 in a research report on Friday, June 14th. Longbow Research upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Monday, May 20th. Bank of America upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $24.75 target price on the stock in a research report on Tuesday, April 30th. Zacks Investment Research upgraded Louisiana-Pacific from a “sell” rating to a “hold” rating in a research report on Monday, May 6th. Finally, ValuEngine upgraded Louisiana-Pacific from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Louisiana-Pacific currently has a consensus rating of “Buy” and a consensus price target of $29.25.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc boosted its position in shares of Louisiana-Pacific by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 16,716,528 shares of the building manufacturing company’s stock valued at $442,821,000 after acquiring an additional 79,358 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Louisiana-Pacific by 12.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 216,600 shares of the building manufacturing company’s stock valued at $4,813,000 after acquiring an additional 23,700 shares during the last quarter. Comerica Bank boosted its position in shares of Louisiana-Pacific by 0.8% during the 4th quarter. Comerica Bank now owns 91,608 shares of the building manufacturing company’s stock valued at $2,206,000 after acquiring an additional 770 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Louisiana-Pacific by 28.5% during the 4th quarter. Toronto Dominion Bank now owns 2,570 shares of the building manufacturing company’s stock valued at $57,000 after acquiring an additional 570 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Louisiana-Pacific by 0.4% during the 4th quarter. California Public Employees Retirement System now owns 439,995 shares of the building manufacturing company’s stock valued at $9,777,000 after buying an additional 1,688 shares during the period. 89.45% of the stock is owned by hedge funds and other institutional investors.

Shares of LPX stock traded up $0.33 during trading hours on Thursday, reaching $25.97. 1,259,045 shares of the company’s stock were exchanged, compared to its average volume of 2,133,033. The firm has a market cap of $3.17 billion, a P/E ratio of 9.47, a P/E/G ratio of 3.37 and a beta of 1.40. The business’s 50 day simple moving average is $24.20. Louisiana-Pacific has a 1 year low of $20.39 and a 1 year high of $32.16. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.25 and a current ratio of 3.55.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Tuesday, May 7th. The building manufacturing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.03). Louisiana-Pacific had a net margin of 12.16% and a return on equity of 19.63%. The firm had revenue of $582.00 million during the quarter, compared to analysts’ expectations of $601.49 million. During the same period in the previous year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. Sell-side analysts forecast that Louisiana-Pacific will post 1.52 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Tuesday, May 21st were paid a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 2.08%. The ex-dividend date was Monday, May 20th. Louisiana-Pacific’s payout ratio is currently 19.71%.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.

Recommended Story: Why do analysts give a neutral rating?

Receive News & Ratings for Louisiana-Pacific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Louisiana-Pacific and related companies with MarketBeat.com's FREE daily email newsletter.