Convergence Investment Partners LLC Buys New Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Convergence Investment Partners LLC acquired a new stake in Louisiana-Pacific Co. (NYSE:LPX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,405 shares of the building manufacturing company’s stock, valued at approximately $870,000.

A number of other hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. lifted its stake in Louisiana-Pacific by 11,417.9% during the third quarter. Pacer Advisors Inc. now owns 1,106,410 shares of the building manufacturing company’s stock worth $118,895,000 after purchasing an additional 1,096,804 shares during the period. FMR LLC lifted its position in shares of Louisiana-Pacific by 25.2% during the 3rd quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company’s stock worth $340,427,000 after buying an additional 638,058 shares during the period. Principal Financial Group Inc. boosted its stake 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 Louisiana-Pacific by 10.8% in the third quarter. State Street Corp now owns 2,154,561 shares of the building manufacturing company’s stock valued at $231,529,000 after acquiring an additional 210,113 shares during the period. Finally, Bamco Inc. NY raised its stake in Louisiana-Pacific by 65.7% during the third quarter. Bamco Inc. NY now owns 516,472 shares of the building manufacturing company’s stock worth $55,500,000 after acquiring an additional 204,828 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Activity

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $113.50, for a total value of $283,750.00. Following the transaction, the director now directly owns 18,513 shares of the company’s stock, valued at approximately $2,101,225.50. This trade represents a 11.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company’s stock.

Louisiana-Pacific Stock Down 10.0 %

Shares of LPX opened at $101.60 on Thursday. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.36 and a beta of 1.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.92. The business’s fifty day moving average price is $110.81 and its two-hundred day moving average price is $106.48. Louisiana-Pacific Co. has a 52 week low of $66.77 and a 52 week high of $122.87.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.24. The business had revenue of $681.00 million for the quarter, compared to analysts’ expectations of $666.75 million. Louisiana-Pacific had a return on equity of 24.50% and a net margin of 14.29%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.71 earnings per share. On average, analysts predict that Louisiana-Pacific Co. will post 5.64 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, February 27th. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.26. Louisiana-Pacific’s dividend payout ratio (DPR) is 19.31%.

Analyst Ratings Changes

Several equities research analysts have recently commented on LPX shares. BMO Capital Markets boosted their target price on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Truist Financial boosted their price target on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, January 6th. StockNews.com lowered shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. TD Securities boosted their price target on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price target on Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $108.38.

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.