Bank of New York Mellon Corp Grows Stake in Louisiana-Pacific Co. (NYSE:LPX)

Bank of New York Mellon Corp boosted its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 613,752 shares of the building manufacturing company's stock after purchasing an additional 19,772 shares during the period. Bank of New York Mellon Corp owned about 0.87% of Louisiana-Pacific worth $63,554,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in Louisiana-Pacific by 98.8% during the 4th quarter. UMB Bank n.a. now owns 318 shares of the building manufacturing company's stock valued at $33,000 after purchasing an additional 158 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Louisiana-Pacific during the 4th quarter worth approximately $35,000. Versant Capital Management Inc grew its holdings in shares of Louisiana-Pacific by 158.5% during the 4th quarter. Versant Capital Management Inc now owns 349 shares of the building manufacturing company's stock worth $36,000 after acquiring an additional 214 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Louisiana-Pacific during the 3rd quarter worth approximately $38,000. Finally, Covestor Ltd grew its holdings in shares of Louisiana-Pacific by 61.0% during the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company's stock worth $46,000 after acquiring an additional 163 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have weighed in on LPX shares. StockNews.com downgraded Louisiana-Pacific from a "buy" rating to a "hold" rating in a report on Sunday, November 10th. BMO Capital Markets upped their target price on Louisiana-Pacific from $105.00 to $108.00 and gave the stock a "market perform" rating in a report on Thursday, February 20th. DA Davidson reduced their target price on Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $125.00 price target on shares of Louisiana-Pacific in a research report on Thursday, February 20th. Finally, Truist Financial boosted their price target on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $111.50.

Insider Buying and Selling at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 2,500 shares of the firm's stock in a transaction on Monday, December 16th. The stock was 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 in the company, valued at $2,101,225.50. This trade represents a 11.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.26% of the company's stock.

Louisiana-Pacific Stock Down 1.0 %

LPX traded down $0.91 during trading on Friday, hitting $92.86. 632,805 shares of the company's stock traded hands, compared to its average volume of 766,658. The company's 50 day simple moving average is $108.55 and its two-hundred day simple moving average is $106.68. 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 12-month low of $71.39 and a 12-month high of $122.87. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.24 and a beta of 1.95.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last issued its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.79 by $0.24. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. 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 business posted $0.71 EPS. The company's revenue was up 3.5% compared to the same quarter last year. Analysts predict that Louisiana-Pacific Co. will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.21%. This is an increase from Louisiana-Pacific's previous quarterly dividend of $0.26. The ex-dividend date is Thursday, February 27th. Louisiana-Pacific's dividend payout ratio (DPR) is currently 19.05%.

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.