Woodline Partners LP Acquires Shares of 183,860 Louisiana-Pacific Co. (NYSE:LPX)

Woodline Partners LP acquired a new stake in Louisiana-Pacific Co. (NYSE:LPX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 183,860 shares of the building manufacturing company's stock, valued at approximately $19,039,000. Woodline Partners LP owned 0.26% of Louisiana-Pacific at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Sagefield Capital LP acquired a new stake in Louisiana-Pacific in the fourth quarter valued at approximately $3,446,000. Skye Global Management LP acquired a new stake in Louisiana-Pacific in the fourth quarter valued at approximately $4,194,000. Royal Bank of Canada grew its holdings in Louisiana-Pacific by 14.3% in the fourth quarter. Royal Bank of Canada now owns 155,151 shares of the building manufacturing company's stock valued at $16,067,000 after purchasing an additional 19,411 shares during the period. Redwood Investment Management LLC acquired a new stake in Louisiana-Pacific in the fourth quarter valued at approximately $1,427,000. Finally, Point72 Asset Management L.P. grew its holdings in Louisiana-Pacific by 430.3% in the fourth quarter. Point72 Asset Management L.P. now owns 375,900 shares of the building manufacturing company's stock valued at $38,924,000 after purchasing an additional 305,021 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LPX shares. Royal Bank of Canada lifted their price target on Louisiana-Pacific from $114.00 to $115.00 and gave the stock 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 target on the stock in a research note on Wednesday, May 7th. DA Davidson lowered their price target 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 lowered their price target 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. Finally, BMO Capital Markets lifted their price target on Louisiana-Pacific from $105.00 to $108.00 and gave the stock a "market perform" rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Louisiana-Pacific presently has an average rating of "Hold" and an average target price of $107.38.

Louisiana-Pacific Stock Performance

Shares of Louisiana-Pacific stock opened at $91.50 on Thursday. Louisiana-Pacific Co. has a one year low of $78.82 and a one year high of $122.87. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.24 and a beta of 1.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.86. The business's 50 day moving average price is $89.28 and its 200 day moving average price is $102.30.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The building manufacturing company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.14. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The firm had revenue of $724.00 million for the quarter, compared to the consensus estimate of $711.66 million. During the same quarter last year, the business posted $1.53 earnings per share. The firm's revenue was up .0% compared to the same quarter last year. On average, research analysts predict that Louisiana-Pacific Co. will post 5.27 EPS for the current 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 given a dividend of $0.28 per share. 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 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.

Want to see what other hedge funds are holding LPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Louisiana-Pacific Co. (NYSE:LPX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.