Geode Capital Management LLC Cuts Position in Louisiana-Pacific Co. (NYSE:LPX)

Geode Capital Management LLC lessened its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,067,110 shares of the building manufacturing company’s stock after selling 4,151 shares during the quarter. Geode Capital Management LLC owned about 1.52% of Louisiana-Pacific worth $110,534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. O Shaughnessy Asset Management LLC grew its holdings in Louisiana-Pacific by 52.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 15,434 shares of the building manufacturing company’s stock worth $1,598,000 after purchasing an additional 5,284 shares during the period. Dorsey Wright & Associates purchased a new stake in Louisiana-Pacific in the fourth quarter worth about $7,330,000. RWA Wealth Partners LLC grew its holdings in Louisiana-Pacific by 19.9% in the fourth quarter. RWA Wealth Partners LLC now owns 3,621 shares of the building manufacturing company’s stock worth $375,000 after purchasing an additional 600 shares during the period. Strategy Asset Managers LLC purchased a new stake in Louisiana-Pacific in the fourth quarter worth about $299,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Louisiana-Pacific in the fourth quarter worth about $1,696,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Up 10.5 %

Shares of Louisiana-Pacific stock opened at $89.67 on Thursday. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company’s 50 day moving average is $98.27 and its 200 day moving average is $105.56. Louisiana-Pacific Co. has a twelve month low of $71.39 and a twelve month high of $122.87. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results 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 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 last year, the firm earned $0.71 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. Research analysts anticipate that Louisiana-Pacific Co. will post 5.27 EPS for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a $0.28 dividend. 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. This represents a $1.12 annualized dividend and a yield of 1.25%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 19.05%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LPX shares. 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. BMO Capital Markets increased their price target on shares of 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 increased their price target on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a report on Monday, January 6th. Loop Capital cut their price target on shares of Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, February 24th. Finally, DA Davidson cut their price target on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $111.50.

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.