CANADA LIFE ASSURANCE Co Has $6.07 Million Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

CANADA LIFE ASSURANCE Co increased its position in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,669 shares of the building manufacturing company's stock after buying an additional 8,540 shares during the period. CANADA LIFE ASSURANCE Co owned 0.08% of Louisiana-Pacific worth $6,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Louisiana-Pacific during the fourth quarter worth approximately $78,181,000. FMR LLC raised its stake in Louisiana-Pacific by 17.1% during the 4th quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company's stock valued at $384,031,000 after purchasing an additional 540,703 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Louisiana-Pacific by 215.0% in the 4th quarter. Principal Financial Group Inc. now owns 470,167 shares of the building manufacturing company's stock valued at $48,686,000 after purchasing an additional 320,912 shares during the period. Vanguard Group Inc. grew its position in Louisiana-Pacific by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 7,087,989 shares of the building manufacturing company's stock worth $733,961,000 after purchasing an additional 132,891 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Louisiana-Pacific by 217.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 144,786 shares of the building manufacturing company's stock worth $14,993,000 after purchasing an additional 99,172 shares during the period. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. BMO Capital Markets increased their target price on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a "market perform" rating in a research note on Thursday, February 20th. DA Davidson reduced their price objective on Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating for the company in a research report on Thursday, February 20th. Loop Capital lowered their price objective on Louisiana-Pacific from $117.00 to $110.00 and set a "hold" rating on the stock in a research report on Monday, February 24th. TD Securities cut their target price on Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating for the company in a research note on Thursday, February 20th. Finally, Truist Financial decreased their price target on shares of Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $108.63.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock traded down $0.44 during mid-day trading on Friday, hitting $86.59. 257,510 shares of the company were exchanged, compared to its average volume of 735,264. The company has a market capitalization of $6.03 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The business has a fifty day moving average of $91.19 and a 200 day moving average of $103.73. Louisiana-Pacific Co. has a 1-year low of $72.06 and a 1-year 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 - Get Free Report) last announced its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.24. The business had revenue of $681.00 million during the quarter, compared to analysts' expectations of $666.75 million. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $0.71 EPS. As a group, sell-side analysts expect that Louisiana-Pacific Co. will post 5.27 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a $0.28 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from Louisiana-Pacific's previous quarterly dividend of $0.26. Louisiana-Pacific's payout ratio is 19.05%.

Louisiana-Pacific Company 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.