Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned -5.5% in the second quarter, compared to a 3.2% return for the benchmark. Year to date, the fund returned 7.4% compared to 19.4% for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Cooper Investors Global Equities Fund highlighted stocks like Louisiana-Pacific Corporation (NYSE:LPX) in its Q2 2024 investor letter. Headquartered in Nashville, Tennessee, Louisiana-Pacific Corporation (NYSE:LPX) provides building solutions for use in new home construction, repair and remodeling, and outdoor structure markets. The one-month return of Louisiana-Pacific Corporation (NYSE:LPX) was 4.93%, and its shares gained 51.62% of their value over the last 52 weeks. On August 12, 2024, Louisiana-Pacific Corporation (NYSE:LPX) stock closed at $94.05 per share with a market capitalization of $6.609 billion.
Cooper Investors Global Equities Fund stated the following regarding Louisiana-Pacific Corporation (NYSE:LPX) in its Q2 2024 investor letter:
“In the last newsletter we discussed a visit to US building materials company Louisiana-Pacific Corporation (NYSE:LPX) that is progressing through a substantial commodity-to-specialty mix shift. Results in the first quarter saw better siding volumes and a margin step-up larger than expected, plus better realised OSB prices. Did the intrinsic value of the business improve by a fifth overnight? Unlikely. This transformation is multi-year in the making, and there will be bumps along the way. Nevertheless, it was a solid quarter of execution and the market saw fit to reprice the stock upwards by >20% on the day.”
A construction worker standing on a rooftop with a toolbelt in hand, looking out at a new home development in the background.
Louisiana-Pacific Corporation (NYSE:LPX) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Louisiana-Pacific Corporation (NYSE:LPX) at the end of the first quarter which was 41 in the previous quarter. While we acknowledge the potential of Louisiana-Pacific Corporation (NYSE:LPX) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Louisiana-Pacific Corporation (NYSE:LPX) and shared the list of best lumber stocks to buy. In the Q1 2024 investor letter Cooper Investors Global Equities Fund highlighted Louisiana-Pacific Corporation’s (NYSE:LPX) commodity-to-specialty mix shift. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
