Concentric Capital Strategies LP Purchases Shares of 27,005 Louisiana-Pacific Co. (NYSE:LPX)

Concentric Capital Strategies LP acquired a new stake in Louisiana-Pacific Co. (NYSE:LPX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 27,005 shares of the building manufacturing company's stock, valued at approximately $2,796,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Alyeska Investment Group L.P. boosted its position in Louisiana-Pacific by 1,736.2% in the 4th quarter. Alyeska Investment Group L.P. now owns 891,351 shares of the building manufacturing company's stock valued at $92,299,000 after buying an additional 842,809 shares during the period. Norges Bank bought a new stake in shares of Louisiana-Pacific during the fourth quarter valued at approximately $78,181,000. FMR LLC boosted its holdings in shares of Louisiana-Pacific by 17.1% in the fourth quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company's stock valued at $384,031,000 after purchasing an additional 540,703 shares during the period. Palestra Capital Management LLC bought a new position in Louisiana-Pacific in the fourth quarter worth approximately $34,521,000. Finally, Principal Financial Group Inc. increased its holdings in Louisiana-Pacific by 215.0% during the 4th quarter. Principal Financial Group Inc. now owns 470,167 shares of the building manufacturing company's stock worth $48,686,000 after purchasing an additional 320,912 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Stock Up 0.3 %

Shares of LPX traded up $0.30 during midday trading on Friday, hitting $90.66. 1,045,084 shares of the company's stock traded hands, compared to its average volume of 717,203. Louisiana-Pacific Co. has a 1 year low of $78.82 and a 1 year high of $122.87. The firm's fifty day moving average is $88.99 and its 200-day moving average is $102.69. The company has a current ratio of 2.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.24 and a beta of 1.94.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The building manufacturing company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.14. The business had revenue of $724.00 million for the quarter, compared to analyst estimates of $711.66 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The company's revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.53 earnings per share. As a group, sell-side analysts anticipate that Louisiana-Pacific Co. will post 5.27 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, May 20th. Louisiana-Pacific's dividend payout ratio (DPR) is presently 19.65%.

Analyst Ratings Changes

A number of research firms have recently issued reports on LPX. Loop Capital raised Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price target on the stock in a research report on Wednesday. Truist Financial dropped their target price on shares of Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada boosted their price target on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday. TD Securities dropped their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating on the stock in a research note on Thursday, February 20th. Finally, DA Davidson reduced their price objective on shares of Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company's 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.