Man Group plc Sells 284,332 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Man Group plc trimmed its stake in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 72.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,533 shares of the building manufacturing company's stock after selling 284,332 shares during the quarter. Man Group plc owned 0.15% of Louisiana-Pacific worth $11,135,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp boosted its holdings in Louisiana-Pacific by 47.3% during the fourth quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company's stock valued at $1,010,000 after purchasing an additional 3,129 shares in the last quarter. Symphony Financial Ltd. Co. acquired a new stake in Louisiana-Pacific during the fourth quarter valued at approximately $259,000. Victory Capital Management Inc. boosted its holdings in Louisiana-Pacific by 23.8% during the fourth quarter. Victory Capital Management Inc. now owns 167,439 shares of the building manufacturing company's stock valued at $17,338,000 after purchasing an additional 32,210 shares in the last quarter. New York Life Investment Management LLC acquired a new stake in Louisiana-Pacific during the fourth quarter valued at approximately $699,000. Finally, Ritholtz Wealth Management raised its stake in shares of Louisiana-Pacific by 65.0% in the fourth quarter. Ritholtz Wealth Management now owns 7,381 shares of the building manufacturing company's stock valued at $764,000 after acquiring an additional 2,907 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPX has been the subject of a number of research analyst reports. DA Davidson cut their target price 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. BMO Capital Markets lifted their target price on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a "market perform" rating in a research note on Thursday, February 20th. Loop Capital upgraded shares of Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 target price for the company in a research note on Wednesday, May 7th. Royal Bank of Canada lifted their target price on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, TD Securities cut their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating for the company in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $107.38.

Louisiana-Pacific Trading Down 0.6%

NYSE:LPX traded down $0.59 during trading hours on Wednesday, hitting $91.50. 1,485,696 shares of the stock were exchanged, compared to its average volume of 708,685. The company's 50 day moving average is $89.28 and its two-hundred day moving average is $102.30. Louisiana-Pacific Co. has a twelve month low of $78.82 and a twelve month high of $122.87. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $6.37 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.94.

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

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be issued a $0.28 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $1.12 dividend on an annualized basis and a yield of 1.22%. Louisiana-Pacific's dividend payout ratio is presently 19.65%.

About Louisiana-Pacific

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.