Millennium Management LLC Sells 125,382 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Millennium Management LLC lessened its stake in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 61.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,307 shares of the building manufacturing company's stock after selling 125,382 shares during the period. Millennium Management LLC owned about 0.11% of Louisiana-Pacific worth $8,005,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Louisiana-Pacific by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 7,087,989 shares of the building manufacturing company's stock valued at $733,961,000 after acquiring an additional 132,891 shares during the last quarter. FMR LLC raised its stake in Louisiana-Pacific by 17.1% during the fourth quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company's stock worth $384,031,000 after buying an additional 540,703 shares during the last quarter. 59 North Capital Management LP lifted its holdings in Louisiana-Pacific by 13.4% in the fourth quarter. 59 North Capital Management LP now owns 1,982,826 shares of the building manufacturing company's stock valued at $205,322,000 after buying an additional 235,069 shares during the period. Eminence Capital LP lifted its holdings in Louisiana-Pacific by 7.7% in the fourth quarter. Eminence Capital LP now owns 1,445,106 shares of the building manufacturing company's stock valued at $149,641,000 after buying an additional 102,897 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Louisiana-Pacific by 2.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,266,145 shares of the building manufacturing company's stock valued at $131,109,000 after acquiring an additional 24,285 shares during the last quarter. Institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Stock Down 4.8%

NYSE LPX traded down $4.56 on Wednesday, hitting $89.77. 974,632 shares of the company were exchanged, compared to its average volume of 710,356. The company has a market cap of $6.25 billion, a PE ratio of 15.27, a PEG ratio of 1.24 and a beta of 1.94. Louisiana-Pacific Co. has a 12 month low of $78.82 and a 12 month high of $122.87. The stock has a fifty day moving average of $89.23 and a 200-day moving average of $101.85. The company has a current ratio of 2.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21.

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

Louisiana-Pacific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.28 per share. The ex-dividend date is Tuesday, May 20th. This represents a $1.12 annualized dividend and a yield of 1.25%. Louisiana-Pacific's payout ratio is 19.65%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LPX. DA Davidson dropped their price objective on Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Truist Financial dropped their price objective on Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank of Canada boosted their price objective on Louisiana-Pacific from $114.00 to $115.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Loop Capital raised Louisiana-Pacific from a "hold" rating to a "buy" rating and set a $110.00 price objective on the stock in a research note on Wednesday, May 7th. Finally, TD Securities dropped their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating on the stock in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Louisiana-Pacific currently has a consensus rating of "Hold" and an average price target 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.