Allspring Global Investments Holdings LLC Purchases 21,462 Shares of Louisiana-Pacific Corporation (NYSE:LPX)

Allspring Global Investments Holdings LLC grew its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX - Free Report) by 18.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,939 shares of the building manufacturing company's stock after acquiring an additional 21,462 shares during the period. Allspring Global Investments Holdings LLC owned about 0.20% of Louisiana-Pacific worth $12,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sanctuary Advisors LLC increased its position in Louisiana-Pacific by 7.1% in the fourth quarter. Sanctuary Advisors LLC now owns 1,862 shares of the building manufacturing company's stock worth $193,000 after buying an additional 124 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Louisiana-Pacific by 136.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,521 shares of the building manufacturing company's stock worth $158,000 after acquiring an additional 879 shares in the last quarter. Victory Capital Management Inc. raised its stake in Louisiana-Pacific by 23.8% during the 4th quarter. Victory Capital Management Inc. now owns 167,439 shares of the building manufacturing company's stock worth $17,338,000 after acquiring an additional 32,210 shares during the period. Assetmark Inc. lifted its holdings in Louisiana-Pacific by 7.7% during the fourth quarter. Assetmark Inc. now owns 13,616 shares of the building manufacturing company's stock valued at $1,410,000 after purchasing an additional 970 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in Louisiana-Pacific by 353.0% during the fourth quarter. Atria Investments Inc now owns 15,782 shares of the building manufacturing company's stock valued at $1,634,000 after purchasing an additional 12,298 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LPX has been the subject of a number of analyst reports. DA Davidson reduced their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Royal Bank Of Canada raised their price target on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Loop Capital raised Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective for the company in a research note on Wednesday, May 7th. Finally, Truist Financial cut their target price on Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Louisiana-Pacific currently has a consensus rating of "Hold" and a consensus target price of $106.63.

Insider Activity at Louisiana-Pacific

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 1,179 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $89.52, for a total transaction of $105,544.08. Following the sale, the director directly owned 18,838 shares in the company, valued at $1,686,377.76. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.42% of the company's stock.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX traded down $0.88 during mid-day trading on Friday, reaching $91.70. The stock had a trading volume of 578,214 shares, compared to its average volume of 696,580. The business's 50 day moving average price is $90.04 and its 200 day moving average price is $97.05. Louisiana-Pacific Corporation has a 1 year low of $78.82 and a 1 year high of $122.87. The company has a market cap of $6.38 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 1.42 and a beta of 1.84. The company has a current ratio of 3.03, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its earnings results on Tuesday, May 6th. The building manufacturing company reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.13 by $0.14. Louisiana-Pacific had a return on equity of 23.75% and a net margin of 13.74%. The firm had revenue of $724.00 million during the quarter, compared to the consensus estimate of $711.66 million. During the same period in the prior year, the company earned $1.53 EPS. The company's quarterly revenue was up .0% compared to the same quarter last year. Research analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, May 20th. Louisiana-Pacific's dividend payout ratio is 19.65%.

Louisiana-Pacific 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.