Pinebridge Investments L.P. Has $2.36 Million Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Pinebridge Investments L.P. boosted its stake in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 61.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,754 shares of the building manufacturing company's stock after purchasing an additional 8,701 shares during the period. Pinebridge Investments L.P.'s holdings in Louisiana-Pacific were worth $2,356,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Louisiana-Pacific during the 4th quarter valued at about $78,181,000. FMR LLC lifted its position in shares of 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 purchasing an additional 540,703 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Louisiana-Pacific by 215.0% in the fourth quarter. Principal Financial Group Inc. now owns 470,167 shares of the building manufacturing company's stock valued at $48,686,000 after purchasing an additional 320,912 shares during the period. 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. Finally, Envestnet Asset Management Inc. increased its stake in Louisiana-Pacific by 217.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 144,786 shares of the building manufacturing company's stock worth $14,993,000 after buying an additional 99,172 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Performance

Louisiana-Pacific stock traded up $0.45 during midday trading on Friday, reaching $86.97. 340,108 shares of the stock traded hands, compared to its average volume of 731,307. The firm has a fifty day moving average price of $90.13 and a two-hundred day moving average price of $103.25. Louisiana-Pacific Co. has a fifty-two week low of $72.28 and a fifty-two week high of $122.87. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.24 and a beta of 1.86. 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 announced its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.24. The firm 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 firm's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. On average, equities research analysts forecast that Louisiana-Pacific Co. will post 5.27 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The company 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 dividend on an annualized basis and a yield of 1.29%. This is an increase from Louisiana-Pacific's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, February 27th. Louisiana-Pacific's dividend payout ratio is 19.05%.

Wall Street Analysts Forecast Growth

LPX has been the topic of a number of analyst reports. DA Davidson cut 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. 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. TD Securities decreased their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Louisiana-Pacific in a report on Thursday, February 20th. Finally, 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $108.63.

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.