Prudential Financial Inc. Buys 6,190 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Prudential Financial Inc. raised its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,955 shares of the building manufacturing company’s stock after acquiring an additional 6,190 shares during the quarter. Prudential Financial Inc.’s holdings in Louisiana-Pacific were worth $10,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Louisiana-Pacific by 36.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 21,045 shares of the building manufacturing company’s stock valued at $2,261,000 after purchasing an additional 5,645 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Louisiana-Pacific by 269.7% during the 4th quarter. Miracle Mile Advisors LLC now owns 41,698 shares of the building manufacturing company’s stock valued at $4,318,000 after buying an additional 30,418 shares in the last quarter. Truist Financial Corp grew its position in shares of Louisiana-Pacific by 47.3% in the 4th quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company’s stock worth $1,010,000 after buying an additional 3,129 shares during the period. Symphony Financial Ltd. Co. bought a new position in shares of Louisiana-Pacific in the 4th quarter worth about $259,000. Finally, Victory Capital Management Inc. lifted its position in Louisiana-Pacific by 23.8% during the 4th quarter. Victory Capital Management Inc. now owns 167,439 shares of the building manufacturing company’s stock valued at $17,338,000 after acquiring an additional 32,210 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LPX shares. TD Securities decreased their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company in a research note on Thursday, February 20th. Loop Capital reduced their price objective on Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, February 24th. DA Davidson lowered their price objective on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Truist Financial increased their target price on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price target on shares of Louisiana-Pacific in a research report on Thursday, February 20th. Two investment 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.50.

Louisiana-Pacific Trading Down 1.9 %

Louisiana-Pacific stock opened at $91.67 on Friday. Louisiana-Pacific Co. has a one year low of $71.39 and a one year high of $122.87. The business’s fifty day moving average is $103.96 and its 200 day moving average is $106.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.86 and a quick ratio of 1.69. The stock has a market capitalization of $6.39 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.24. The firm had revenue of $681.00 million during the quarter, compared to analyst estimates of $666.75 million. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 earnings per share. On average, sell-side analysts predict that Louisiana-Pacific Co. will post 5.27 EPS for the current year.

Louisiana-Pacific Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a $0.28 dividend. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, February 27th. Louisiana-Pacific’s dividend payout ratio (DPR) is 19.05%.

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.