59 North Capital Management LP Has $205.32 Million Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

59 North Capital Management LP boosted its stake in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 13.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,982,826 shares of the building manufacturing company's stock after acquiring an additional 235,069 shares during the quarter. Louisiana-Pacific comprises about 9.6% of 59 North Capital Management LP's holdings, making the stock its 3rd largest holding. 59 North Capital Management LP owned approximately 2.82% of Louisiana-Pacific worth $205,322,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings 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 valued at $733,961,000 after purchasing an additional 132,891 shares in the last quarter. FMR LLC boosted its position in Louisiana-Pacific by 17.1% in the 4th quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company's stock valued at $384,031,000 after buying an additional 540,703 shares during the last quarter. Northern Trust Corp increased its position in shares of Louisiana-Pacific by 27.1% during the fourth quarter. Northern Trust Corp now owns 781,984 shares of the building manufacturing company's stock worth $80,974,000 after acquiring an additional 166,594 shares during the last quarter. Norges Bank purchased a new stake in shares of Louisiana-Pacific during the fourth quarter worth about $78,181,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Louisiana-Pacific by 3.3% in the fourth quarter. Bank of New York Mellon Corp now owns 613,752 shares of the building manufacturing company's stock worth $63,554,000 after acquiring an additional 19,772 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Louisiana-Pacific Stock Performance

LPX traded up $0.10 on Monday, hitting $87.64. 1,216,210 shares of the company's stock were exchanged, compared to its average volume of 736,271. The company has a current ratio of 2.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average of $89.62 and a two-hundred day moving average of $103.00. Louisiana-Pacific Co. has a twelve month low of $72.91 and a twelve month high of $122.87. The firm has a market cap of $6.11 billion, a PE ratio of 14.91, a P/E/G ratio of 1.24 and a beta of 1.94.

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

Louisiana-Pacific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, February 27th. This is a boost from Louisiana-Pacific's previous quarterly dividend of $0.26. Louisiana-Pacific's dividend payout ratio (DPR) is 19.05%.

Wall Street Analyst Weigh In

LPX has been the topic of several analyst reports. Loop Capital dropped their price objective on Louisiana-Pacific from $117.00 to $110.00 and set a "hold" rating on the stock in a report on Monday, February 24th. TD Securities cut 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. Truist Financial decreased their price objective on shares of Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada restated an "outperform" rating and issued a $125.00 target price on shares of Louisiana-Pacific in a research note on Thursday, February 20th. 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, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $108.63.

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.