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Keaton Mamtora

Research Analyst at BMO Capital Markets

Ketan Mamtora is an Analyst-Equity at BMO Capital Markets specializing in building products, materials, and forestry sectors, with a focus on construction and related industries. He covers a diverse portfolio of companies including Louisiana-Pacific (LPX), AZek (AZEK), Bldr, Weyerhaeuser (WY), and UFP Industries (UFPI), among others. His performance metrics are strong across multiple tracking platforms: TipRanks reports a 73% success rate with an average return of 18.4% per rating across 188 total ratings, while other sources document a 78.26% success rate with 27.01% average returns; his most notable achievement was a Louisiana-Pacific buy rating from May 2020-2021 that generated a 247.7% return. Mamtora joined BMO Capital Markets in April 2014 as an Analyst-Equity after previously serving as a Research Associate at Deutsche Bank Securities, and he holds an MBA from ICFAI Business School.

Keaton Mamtora's questions to LOUISIANA-PACIFIC (LPX) leadership

Question · Q4 2025

Keaton Mamtora asked about demand trends for LP's ExpertFinish product, noting strong Q4 volumes, and inquired about the current allocation status for that business. He also asked for an update on LP's plans for additional siding capacity, including the timeline for options like Manumax, and how the company is managing OSB production in the interim.

Answer

CEO Jason Ringblom stated that macro trends favor ExpertFinish due to tight labor and demand for durable solutions, leading to outperformance in new construction and R&R. He confirmed LP came off allocation for ExpertFinish on February 1st, ahead of schedule, due to OEE improvements. For siding capacity, he mentioned the new 70 million-foot line in Green Bay ramping up in early Q2 and ongoing engineering work for future ExpertFinish and primed capacity expansions, with capital spend back-end loaded. For OSB, he noted a focus on matching supply to demand, observing a price rebound and healthier order files, suggesting a better supply-demand balance.

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