Truist Financial Corp Raises Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Truist Financial Corp lifted its stake in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 47.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,751 shares of the building manufacturing company's stock after purchasing an additional 3,129 shares during the period. Truist Financial Corp's holdings in Louisiana-Pacific were worth $1,010,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in Louisiana-Pacific by 25.2% during the 3rd quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company's stock worth $340,427,000 after buying an additional 638,058 shares during the period. State Street Corp grew its stake in shares of Louisiana-Pacific by 10.8% during the third quarter. State Street Corp now owns 2,154,561 shares of the building manufacturing company's stock worth $231,529,000 after purchasing an additional 210,113 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Louisiana-Pacific by 11,417.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,106,410 shares of the building manufacturing company's stock valued at $118,895,000 after acquiring an additional 1,096,804 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Louisiana-Pacific by 32.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 662,496 shares of the building manufacturing company's stock worth $71,192,000 after buying an additional 162,976 shares during the last quarter. Finally, Bamco Inc. NY grew its position in shares of Louisiana-Pacific by 65.7% in the 3rd quarter. Bamco Inc. NY now owns 516,472 shares of the building manufacturing company's stock valued at $55,500,000 after buying an additional 204,828 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LPX shares. BMO Capital Markets raised their price target on Louisiana-Pacific from $105.00 to $108.00 and gave the stock a "market perform" rating in a report on Thursday, February 20th. TD Securities cut 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. Royal Bank of Canada reiterated an "outperform" rating and set a $125.00 price target on shares of Louisiana-Pacific in a research report on Thursday, February 20th. Truist Financial boosted their price target 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, StockNews.com cut Louisiana-Pacific from a "buy" rating to a "hold" rating in a report on Sunday, November 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $111.50.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $113.50, for a total value of $283,750.00. Following the completion of the sale, the director now owns 18,513 shares in the company, valued at approximately $2,101,225.50. This trade represents a 11.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.26% of the company's stock.

Louisiana-Pacific Price Performance

Shares of LPX stock traded up $1.13 during trading on Wednesday, hitting $96.32. The company had a trading volume of 580,908 shares, compared to its average volume of 766,069. The firm has a market capitalization of $6.71 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 1.24 and a beta of 1.95. 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 one year low of $71.39 and a one year high of $122.87. The stock's 50-day moving average price is $109.16 and its 200 day moving average price is $106.85.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share (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 the consensus estimate of $666.75 million. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. Louisiana-Pacific's revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. Equities analysts expect 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 will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a $0.28 dividend. This is an increase from Louisiana-Pacific's previous quarterly dividend of $0.26. The ex-dividend date is Thursday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.16%. Louisiana-Pacific's payout ratio is presently 19.05%.

Louisiana-Pacific Company 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.