Louisiana-Pacific Co. (NYSE:LPX) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 10.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 388,200 shares of the building manufacturing company’s stock after selling 46,686 shares during the period. Renaissance Technologies LLC’s holdings in Louisiana-Pacific were worth $40,198,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Miracle Mile Advisors LLC grew its holdings in Louisiana-Pacific by 269.7% in the fourth quarter. Miracle Mile Advisors LLC now owns 41,698 shares of the building manufacturing company’s stock valued at $4,318,000 after purchasing an additional 30,418 shares during the period. Truist Financial Corp grew its stake in Louisiana-Pacific by 47.3% in the 4th quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company’s stock valued at $1,010,000 after acquiring an additional 3,129 shares during the period. Symphony Financial Ltd. Co. acquired a new stake in Louisiana-Pacific in the 4th quarter valued at $259,000. Victory Capital Management Inc. increased its holdings in Louisiana-Pacific by 23.8% in the 4th quarter. Victory Capital Management Inc. now owns 167,439 shares of the building manufacturing company’s stock worth $17,338,000 after acquiring an additional 32,210 shares in the last quarter. Finally, New York Life Investment Management LLC acquired a new position in Louisiana-Pacific during the fourth quarter worth $699,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Trading Down 4.5 %

Shares of LPX stock opened at $85.68 on Friday. 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 Co. has a twelve month low of $71.39 and a twelve month high of $122.87. The company’s 50-day moving average price is $97.62 and its 200-day moving average price is $105.41. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 1.24 and a beta of 1.86.

Louisiana-Pacific (NYSE:LPX) last posted 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. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The company had revenue of $681.00 million for the quarter, compared to analyst estimates of $666.75 million. During the same period in the previous year, the business posted $0.71 EPS. Louisiana-Pacific’s revenue was up 3.5% on a year-over-year basis. As a group, equities analysts predict that Louisiana-Pacific Co. will post 5.27 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.31%. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, February 27th. Louisiana-Pacific’s dividend payout ratio is presently 19.05%.

Analysts Set New Price Targets

A number of research firms have recently commented on LPX. Truist Financial boosted their target price on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Loop Capital cut their price objective on Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, February 24th. TD Securities decreased their target price on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 price target on shares of Louisiana-Pacific in a research report on Thursday, February 20th. Finally, DA Davidson decreased their price objective on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Louisiana-Pacific presently has an average rating of “Hold” and a consensus price target of $111.50.

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.