Louisiana-Pacific Co. (NYSE:LPX) Shares Bought by Fmr LLC

FMR LLC boosted its holdings in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 17.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,708,649 shares of the building manufacturing company's stock after buying an additional 540,703 shares during the period. FMR LLC owned approximately 5.28% of Louisiana-Pacific worth $384,031,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Louisiana-Pacific in the fourth quarter valued at approximately $78,181,000. Principal Financial Group Inc. grew its holdings in Louisiana-Pacific by 215.0% in the 4th quarter. Principal Financial Group Inc. now owns 470,167 shares of the building manufacturing company's stock valued at $48,686,000 after buying an additional 320,912 shares in the last quarter. State Street Corp grew its position in shares of Louisiana-Pacific by 10.8% during the 3rd quarter. State Street Corp now owns 2,154,561 shares of the building manufacturing company's stock worth $231,529,000 after purchasing an additional 210,113 shares in the last quarter. Vanguard Group Inc. increased its stake in Louisiana-Pacific by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 7,087,989 shares of the building manufacturing company's stock worth $733,961,000 after acquiring an additional 132,891 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Louisiana-Pacific by 217.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 144,786 shares of the building manufacturing company's stock worth $14,993,000 after purchasing an additional 99,172 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LPX shares. TD Securities decreased their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating on the stock in a report on Thursday, February 20th. DA Davidson lowered their price objective on Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Truist Financial increased their price objective on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $125.00 price target on shares of Louisiana-Pacific in a report on Thursday, February 20th. Finally, BMO Capital Markets lifted their price objective on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the stock a "market perform" rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Louisiana-Pacific has a consensus rating of "Hold" and an average price target of $111.50.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock traded down $0.08 on Wednesday, hitting $85.61. 38,372 shares of the company traded hands, compared to its average volume of 663,030. 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 stock has a market capitalization of $5.97 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The business has a 50-day simple moving average of $95.75 and a 200 day simple moving average of $104.99. Louisiana-Pacific Co. has a 52 week low of $71.39 and a 52 week high of $122.87.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.24. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The company had revenue of $681.00 million for the quarter, compared to analysts' expectations of $666.75 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. Research analysts expect that Louisiana-Pacific Co. will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, February 27th. This is an increase from Louisiana-Pacific's previous quarterly dividend of $0.26. Louisiana-Pacific's payout ratio is currently 19.05%.

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.