755,011 Shares in Louisiana-Pacific Co. (NYSE:LPX) Acquired by Norges Bank

Norges Bank purchased a new position in Louisiana-Pacific Co. (NYSE:LPX - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 755,011 shares of the building manufacturing company's stock, valued at approximately $78,181,000. Norges Bank owned 1.07% of Louisiana-Pacific at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of LPX. Miracle Mile Advisors LLC increased its stake 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 worth $4,318,000 after acquiring an additional 30,418 shares during the period. Truist Financial Corp boosted its holdings in Louisiana-Pacific by 47.3% in the fourth quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company's stock valued at $1,010,000 after purchasing an additional 3,129 shares during the last quarter. Symphony Financial Ltd. Co. acquired a new stake in Louisiana-Pacific during the 4th quarter worth about $259,000. Victory Capital Management Inc. raised its stake in shares of Louisiana-Pacific by 23.8% during the 4th quarter. Victory Capital Management Inc. now owns 167,439 shares of the building manufacturing company's stock valued at $17,338,000 after buying an additional 32,210 shares during the last quarter. Finally, New York Life Investment Management LLC purchased a new position in shares of Louisiana-Pacific during the 4th quarter valued at about $699,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on LPX. Loop Capital reduced their price target on Louisiana-Pacific from $117.00 to $110.00 and set a "hold" rating for the company in a research report on Monday, February 24th. DA Davidson decreased their target price on shares of Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. BMO Capital Markets raised their price target 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. Truist Financial upped their price objective on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, TD Securities dropped their target price on 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $111.50.

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Louisiana-Pacific Price Performance

NYSE:LPX traded down $2.87 during trading hours on Monday, hitting $83.23. 971,284 shares of the stock were exchanged, compared to its average volume of 758,822. The firm's fifty day moving average price is $100.74 and its 200 day moving average price is $106.13. Louisiana-Pacific Co. has a 52-week low of $71.39 and a 52-week high of $122.87. The company has a market cap of $5.80 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.24 and a beta of 1.86. The company has a current ratio of 2.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21.

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

Louisiana-Pacific Increases Dividend

The firm also recently declared 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. The ex-dividend date was Thursday, February 27th. This is a positive change from Louisiana-Pacific's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 1.35%. Louisiana-Pacific's 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.