NewEdge Advisors LLC Boosts Stake in Louisiana-Pacific Co. (NYSE:LPX)

NewEdge Advisors LLC grew its holdings in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 272.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 22,183 shares of the building manufacturing company's stock after buying an additional 16,223 shares during the quarter. NewEdge Advisors LLC's holdings in Louisiana-Pacific were worth $2,297,000 at the end of the most recent quarter.

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

Louisiana-Pacific Stock Performance

Louisiana-Pacific stock traded down $0.44 during midday trading on Friday, reaching $86.59. 257,510 shares of the company traded hands, compared to its average volume of 737,785. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.86 and a quick ratio of 1.69. Louisiana-Pacific Co. has a 12 month low of $72.06 and a 12 month high of $122.87. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The business has a 50 day moving average of $91.71 and a two-hundred day moving average of $103.89.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released its quarterly 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 firm had revenue of $681.00 million for the quarter, compared to the consensus estimate of $666.75 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The company's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS. As a group, research analysts predict that Louisiana-Pacific Co. will post 5.27 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 1.29%. This is a positive change from Louisiana-Pacific's previous quarterly dividend of $0.26. Louisiana-Pacific's dividend payout ratio is presently 19.05%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LPX. Truist Financial cut their price target on Louisiana-Pacific from $126.00 to $112.00 and set a "buy" rating on the stock in a research note on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $125.00 price target on shares of Louisiana-Pacific in a research report on Thursday, February 20th. BMO Capital Markets increased 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 report on Thursday, February 20th. Loop Capital decreased their target price on shares of Louisiana-Pacific from $117.00 to $110.00 and set a "hold" rating for the company in a report on Monday, February 24th. Finally, DA Davidson dropped their target price on shares of Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $108.63.

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.