Granite Investment Partners LLC Sells 68,517 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Granite Investment Partners LLC lessened its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 23.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 220,544 shares of the building manufacturing company's stock after selling 68,517 shares during the quarter. Louisiana-Pacific comprises approximately 1.0% of Granite Investment Partners LLC's holdings, making the stock its 24th largest position. Granite Investment Partners LLC owned approximately 0.31% of Louisiana-Pacific worth $22,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Hanseatic Management Services Inc. grew its position in Louisiana-Pacific by 12.0% in the 4th quarter. Hanseatic Management Services Inc. now owns 935 shares of the building manufacturing company's stock valued at $97,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Louisiana-Pacific by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the building manufacturing company's stock worth $1,802,000 after purchasing an additional 100 shares during the period. Woodmont Investment Counsel LLC boosted its stake in Louisiana-Pacific by 3.2% during the 4th quarter. Woodmont Investment Counsel LLC now owns 3,254 shares of the building manufacturing company's stock valued at $337,000 after purchasing an additional 100 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Louisiana-Pacific by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 2,202 shares of the building manufacturing company's stock valued at $228,000 after purchasing an additional 114 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Louisiana-Pacific by 5.6% in the 4th quarter. Stratos Wealth Partners LTD. now owns 2,340 shares of the building manufacturing company's stock worth $242,000 after buying an additional 124 shares in the last quarter. Institutional investors own 94.73% of the company's stock.

Wall Street Analysts Forecast Growth

LPX has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $125.00 target price on shares of Louisiana-Pacific in a report on Thursday, February 20th. TD Securities reduced their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating for the company in a report on Thursday, February 20th. BMO Capital Markets upped their price target on Louisiana-Pacific from $105.00 to $108.00 and gave the company a "market perform" rating in a report on Thursday, February 20th. Truist Financial raised their price objective on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Loop Capital cut their target price on Louisiana-Pacific from $117.00 to $110.00 and set a "hold" rating on the stock in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $111.50.

Louisiana-Pacific Stock Up 0.4 %

Shares of LPX stock traded up $0.31 during trading on Friday, hitting $84.14. 394,270 shares of the company were exchanged, compared to its average volume of 746,941. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.24 and a beta of 1.86. 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 simple moving average is $94.51 and its 200 day simple moving average is $104.68. Louisiana-Pacific Co. has a twelve month low of $71.39 and a twelve month high of $122.87.

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

Louisiana-Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.33%. This is an increase from Louisiana-Pacific's previous quarterly dividend of $0.26. The ex-dividend date was Thursday, February 27th. Louisiana-Pacific's payout ratio is currently 19.05%.

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.