Kennondale Capital Management LLC Takes Position in Louisiana-Pacific Co. (NYSE:LPX)

Kennondale Capital Management LLC bought a new stake in Louisiana-Pacific Co. (NYSE:LPX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,306 shares of the building manufacturing company's stock, valued at approximately $653,000.

A number of other large investors also recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC acquired a new position in Louisiana-Pacific in the fourth quarter valued at about $392,000. Natixis Advisors LLC boosted its stake in shares of Louisiana-Pacific by 0.6% in the fourth quarter. Natixis Advisors LLC now owns 29,753 shares of the building manufacturing company's stock valued at $3,081,000 after purchasing an additional 188 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of Louisiana-Pacific by 1.7% in the fourth quarter. First Eagle Investment Management LLC now owns 155,431 shares of the building manufacturing company's stock valued at $16,095,000 after purchasing an additional 2,550 shares during the period. 12th Street Asset Management Company LLC boosted its stake in shares of Louisiana-Pacific by 3.7% in the fourth quarter. 12th Street Asset Management Company LLC now owns 44,410 shares of the building manufacturing company's stock valued at $4,599,000 after purchasing an additional 1,599 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Louisiana-Pacific by 33.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,554 shares of the building manufacturing company's stock valued at $989,000 after purchasing an additional 2,376 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

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Louisiana-Pacific Stock Down 0.6 %

LPX stock traded down $0.56 during midday trading on Friday, reaching $92.84. 1,060,733 shares of the company were exchanged, compared to its average volume of 733,266. 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 Co. has a 1-year low of $71.39 and a 1-year high of $122.87. The stock's 50-day simple moving average is $105.75 and its 200 day simple moving average is $106.40. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly earnings data 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. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The company had revenue of $681.00 million for the quarter, compared to analysts' expectations of $666.75 million. During the same quarter last year, the company earned $0.71 earnings per share. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Louisiana-Pacific Co. will post 5.27 earnings per share 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 issued 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 1.21%. This is a boost from Louisiana-Pacific's previous quarterly dividend of $0.26. Louisiana-Pacific's dividend payout ratio (DPR) is presently 19.05%.

Analyst Ratings Changes

Several research firms have recently commented on LPX. Truist Financial raised their price objective on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $125.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, February 20th. BMO Capital Markets raised their price objective 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. TD Securities lowered their price objective 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. Finally, Loop Capital decreased their price target on shares of Louisiana-Pacific from $117.00 to $110.00 and set a "hold" rating for the company in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $111.50.

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.