Harvest Fund Management Co. Ltd Makes New Investment in Louisiana-Pacific Co. (NYSE:LPX)

Harvest Fund Management Co. Ltd purchased a new stake in Louisiana-Pacific Co. (NYSE:LPX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,901 shares of the building manufacturing company's stock, valued at approximately $507,000.

Several other hedge funds have also bought and sold shares of the stock. UMB Bank n.a. increased its holdings in shares of 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Louisiana-Pacific in the fourth quarter valued at $35,000. Versant Capital Management Inc raised its position in shares of Louisiana-Pacific by 158.5% in the fourth 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. First Horizon Advisors Inc. boosted its stake in shares of Louisiana-Pacific by 77.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company's stock worth $50,000 after acquiring an additional 201 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Louisiana-Pacific by 65.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 589 shares of the building manufacturing company's stock valued at $61,000 after acquiring an additional 232 shares during the period. Hedge funds and other institutional investors own 94.73% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Truist Financial upped their price target on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $125.00 target price on shares of Louisiana-Pacific in a research note on Thursday, February 20th. Loop Capital dropped their price target 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. BMO Capital Markets upped their price objective on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the stock a "market perform" rating in a research report on Thursday, February 20th. Finally, TD Securities dropped their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating on the stock in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Louisiana-Pacific presently has a consensus rating of "Hold" and an average target price of $111.50.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX traded up $0.11 during midday trading on Tuesday, hitting $95.25. The company's stock had a trading volume of 544,321 shares, compared to its average volume of 731,371. The company has a market cap of $6.64 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02. Louisiana-Pacific Co. has a 12-month low of $71.39 and a 12-month high of $122.87. The business's 50 day simple moving average is $105.54 and its 200 day simple moving average is $106.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.86.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.24. The business had revenue of $681.00 million for 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 was up 3.5% on a year-over-year basis. During the same period last year, the company posted $0.71 EPS. On average, analysts forecast that Louisiana-Pacific Co. will post 5.27 EPS for the current year.

Louisiana-Pacific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Louisiana-Pacific's previous quarterly dividend of $0.26. Louisiana-Pacific's payout ratio 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.