A manufacturer and distributor of building products. The Company operates in three segments: Oriented Strand Board; Siding; and Engineered Wood Products.
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Currently priced at book value. Cash is half of the current stock price. Yield is currently 3%. Obviously a commodity business, but LPX is the market leader is OSB, which is continuing to replace plywood. The company should gain strength in this cyclical downturn. A bad hurricane season in the South East would play into LPX's strength.
I agree that LPX will make a comeback but only when people go back to work not because of hurricanes. We have had three major storms in recent past in the South (Katrina, Rita and Ike) and none of them did a thing for the timber companies.
I am a customer of LP building products. Their management is an arrogant bunch, not willing to listen to outsider ideas, to the detriment of their profitability. I could easily manage this company to profitability within two quarters. Lp will be considered a buy when they get back to $1.35, and with some blind luck, they'll hang in there.