Fmr LLC Boosts Holdings in Louisiana-Pacific Co. (NYSE:LPX)

FMR LLC raised its stake in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 17.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,708,649 shares of the building manufacturing company's stock after purchasing an additional 540,703 shares during the period. FMR LLC owned approximately 5.28% of Louisiana-Pacific worth $384,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC boosted its position in shares of 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 acquiring an additional 30,418 shares during the period. Truist Financial Corp grew its stake in shares of Louisiana-Pacific by 47.3% during the fourth quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company's stock valued at $1,010,000 after buying an additional 3,129 shares during the last quarter. Symphony Financial Ltd. Co. bought a new stake in Louisiana-Pacific during the 4th quarter valued at $259,000. Victory Capital Management Inc. increased its position in shares of Louisiana-Pacific by 23.8% in the fourth 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. Finally, New York Life Investment Management LLC bought a new position in shares of Louisiana-Pacific during the fourth quarter valued at about $699,000. 94.73% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LPX shares. DA Davidson cut their price objective on Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. TD Securities decreased their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating for the company in a report on Thursday, February 20th. Loop Capital cut their target price on shares of Louisiana-Pacific from $117.00 to $110.00 and set a "hold" rating on the stock in a research note on Monday, February 24th. Truist Financial increased their price target 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. Finally, BMO Capital Markets lifted their price objective on Louisiana-Pacific from $105.00 to $108.00 and gave the company a "market perform" rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $111.50.

Louisiana-Pacific Trading Down 1.4 %

LPX traded down $1.18 on Tuesday, reaching $85.59. 154,154 shares of the company traded hands, compared to its average volume of 751,226. 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 company has a market cap of $5.96 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The firm has a fifty day simple moving average of $96.39 and a two-hundred day simple moving average of $105.12. Louisiana-Pacific Co. has a one year low of $71.39 and a one year high of $122.87.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its quarterly 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. The business 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 company's quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, equities research 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. Investors of record on Thursday, February 27th were given a dividend of $0.28 per share. This is a boost from Louisiana-Pacific's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.31%. Louisiana-Pacific's dividend payout ratio is presently 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.