Vestcor Inc Buys New Position in Louisiana-Pacific Co. (NYSE:LPX)

Vestcor Inc purchased a new stake in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,590 shares of the building manufacturing company's stock, valued at approximately $579,000.

Several other hedge funds also recently modified their holdings of the company. UMB Bank n.a. boosted its stake in shares of Louisiana-Pacific by 98.8% during the 4th quarter. UMB Bank n.a. now owns 318 shares of the building manufacturing company's stock worth $33,000 after acquiring an additional 158 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Louisiana-Pacific during the 4th quarter worth $35,000. Versant Capital Management Inc boosted its stake in shares of Louisiana-Pacific by 158.5% during the 4th quarter. Versant Capital Management Inc now owns 349 shares of the building manufacturing company's stock worth $36,000 after acquiring an additional 214 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Louisiana-Pacific by 77.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company's stock worth $50,000 after acquiring an additional 201 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Louisiana-Pacific by 65.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 589 shares of the building manufacturing company's stock worth $61,000 after acquiring an additional 232 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and set a $125.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, February 20th. Truist Financial upped their price target on Louisiana-Pacific from $117.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, January 6th. BMO Capital Markets upped their price target on Louisiana-Pacific from $105.00 to $108.00 and gave the company a "market perform" rating in a research report on Thursday, February 20th. DA Davidson dropped their price target on Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Finally, Loop Capital dropped their price target on Louisiana-Pacific from $117.00 to $110.00 and set a "hold" rating on the stock in a research report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $111.50.

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Louisiana-Pacific Stock Down 0.8 %

Shares of LPX traded down $0.74 during trading hours on Thursday, hitting $93.35. 385,754 shares of the company were exchanged, compared to its average volume of 734,664. The company has a market cap of $6.51 billion, a PE ratio of 15.88, a PEG ratio of 1.24 and a beta of 2.02. The firm's 50 day moving average is $106.51 and its 200-day moving average is $106.60. Louisiana-Pacific Co. has a 52 week low of $71.39 and a 52 week high of $122.87. 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 (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 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 company had revenue of $681.00 million during the quarter, compared to the consensus estimate of $666.75 million. During the same quarter in the prior year, the company posted $0.71 EPS. The firm's revenue was up 3.5% on a year-over-year basis. On average, equities research analysts forecast that Louisiana-Pacific Co. will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were paid a dividend of $0.28 per share. This is an increase from Louisiana-Pacific's previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.12 annualized dividend and a yield of 1.20%. Louisiana-Pacific's dividend 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.