Prudential Financial Inc. Increases Position in Louisiana-Pacific Co. (NYSE:LPX)

Prudential Financial Inc. increased its position in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,955 shares of the building manufacturing company's stock after acquiring an additional 6,190 shares during the period. Prudential Financial Inc. owned about 0.15% of Louisiana-Pacific worth $10,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LPX. Woodmont Investment Counsel LLC raised its holdings in shares of Louisiana-Pacific by 3.2% during the fourth quarter. Woodmont Investment Counsel LLC now owns 3,254 shares of the building manufacturing company's stock valued at $337,000 after purchasing an additional 100 shares during the last quarter. Vanguard Group Inc. grew its position in Louisiana-Pacific by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 7,087,989 shares of the building manufacturing company's stock worth $733,961,000 after purchasing an additional 132,891 shares during the period. LPL Financial LLC raised its stake in Louisiana-Pacific by 148.6% during the 4th quarter. LPL Financial LLC now owns 63,329 shares of the building manufacturing company's stock valued at $6,558,000 after buying an additional 37,856 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Louisiana-Pacific during the 4th quarter valued at $335,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Louisiana-Pacific in the 4th quarter worth $1,615,000. 94.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LPX has been the subject of several research reports. Truist Financial upped their price target on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, January 6th. TD Securities reduced their target price 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. BMO Capital Markets lifted their price target on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the stock a "market perform" rating in a research note on Thursday, February 20th. Royal Bank of Canada restated an "outperform" rating and issued a $125.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, February 20th. Finally, DA Davidson decreased their target price on Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating on the stock in a 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $111.50.

Louisiana-Pacific Stock Up 1.3 %

Shares of NYSE LPX traded up $1.16 during midday trading on Wednesday, reaching $92.34. 159,921 shares of the company's stock traded hands, compared to its average volume of 655,407. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 1.24 and a beta of 2.02. Louisiana-Pacific Co. has a one year low of $71.39 and a one year high of $122.87. 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 stock's 50 day simple moving average is $103.50 and its 200-day simple moving average is $106.57.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last released 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, analysts predict that Louisiana-Pacific Co. will post 5.27 EPS for the current fiscal 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 $0.28 dividend. 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 positive change from Louisiana-Pacific's previous quarterly dividend of $0.26. Louisiana-Pacific's dividend payout ratio is currently 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.