Granite Investment Partners LLC Reduces Stock Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Granite Investment Partners LLC lowered its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 23.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,544 shares of the building manufacturing company’s stock after selling 68,517 shares during the quarter. Louisiana-Pacific makes up about 1.0% of Granite Investment Partners LLC’s holdings, making the stock its 24th biggest position. Granite Investment Partners LLC’s holdings in Louisiana-Pacific were worth $22,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Optimize Financial Inc acquired a new stake in Louisiana-Pacific during the 4th quarter worth $278,000. Townsquare Capital LLC boosted its position in shares of Louisiana-Pacific by 15.5% in the 4th quarter. Townsquare Capital LLC now owns 5,844 shares of the building manufacturing company’s stock valued at $605,000 after purchasing an additional 786 shares during the period. Sterling Capital Management LLC boosted its position in shares of Louisiana-Pacific by 1.1% in the 4th quarter. Sterling Capital Management LLC now owns 98,834 shares of the building manufacturing company’s stock valued at $10,234,000 after purchasing an additional 1,045 shares during the period. Covestor Ltd grew its stake in Louisiana-Pacific by 142.6% during the 4th quarter. Covestor Ltd now owns 1,043 shares of the building manufacturing company’s stock worth $108,000 after buying an additional 613 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in Louisiana-Pacific by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 55,875 shares of the building manufacturing company’s stock worth $5,786,000 after buying an additional 467 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Trading Up 0.7 %

Shares of Louisiana-Pacific stock opened at $86.20 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. Louisiana-Pacific Co. has a 52-week low of $71.39 and a 52-week high of $122.87. The company’s 50-day simple moving average is $97.01 and its 200-day simple moving average is $105.28.

Louisiana-Pacific (NYSE:LPX) last released its 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 company 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 25.35% and a net margin of 14.31%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, equities research analysts anticipate that Louisiana-Pacific Co. will post 5.27 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a $0.28 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.30%. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.26. Louisiana-Pacific’s dividend payout ratio (DPR) is 19.05%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price objective on Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a report on Monday, January 6th. Loop Capital decreased their price target on shares of Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, February 24th. DA Davidson dropped their price objective on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Louisiana-Pacific in a report on Thursday, February 20th. Finally, TD Securities lowered their price target on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Two 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.com, the company currently has a consensus rating of “Hold” and an average 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.