Wealthfront Advisers LLC Makes New $9.17 Million Investment in Louisiana-Pacific Co. (NYSE:LPX)

Wealthfront Advisers LLC acquired a new position in Louisiana-Pacific Co. (NYSE:LPX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 88,563 shares of the building manufacturing company's stock, valued at approximately $9,171,000. Wealthfront Advisers LLC owned 0.13% of Louisiana-Pacific at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Louisiana-Pacific by 17.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,666 shares of the building manufacturing company's stock worth $1,933,000 after acquiring an additional 2,730 shares during the period. Amundi lifted its position in shares of Louisiana-Pacific by 0.8% in the 4th quarter. Amundi now owns 96,557 shares of the building manufacturing company's stock worth $10,288,000 after acquiring an additional 761 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Louisiana-Pacific in the 4th quarter worth approximately $1,223,000. Inceptionr LLC bought a new stake in shares of Louisiana-Pacific in the 4th quarter worth approximately $298,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Louisiana-Pacific in the 4th quarter worth approximately $3,020,000. Institutional investors own 94.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on LPX shares. Loop Capital reduced their price objective 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. Royal Bank of Canada reissued an "outperform" rating and issued a $125.00 target price on shares of Louisiana-Pacific in a report on Thursday, February 20th. BMO Capital Markets increased their target price on Louisiana-Pacific from $105.00 to $108.00 and gave the stock a "market perform" rating in a report on Thursday, February 20th. DA Davidson dropped their target price on Louisiana-Pacific from $125.00 to $123.00 and set a "buy" rating for the company in a report on Thursday, February 20th. Finally, TD Securities dropped their target price on Louisiana-Pacific from $123.00 to $117.00 and set a "hold" rating for the company in a report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $111.50.

Remove Ads

Insider Activity

In other news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction 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 directly owns 18,513 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.26% of the company's stock.

Louisiana-Pacific Trading Up 2.6 %

LPX stock opened at $91.87 on Thursday. The business has a fifty day moving average price of $107.99 and a 200 day moving average price of $106.80. Louisiana-Pacific Co. has a fifty-two week low of $71.39 and a fifty-two week high of $122.87. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.24 and a beta of 2.02. 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 (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 for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $666.75 million. During the same period last year, the firm posted $0.71 EPS. The business's revenue was up 3.5% on a year-over-year basis. Analysts expect 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 will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.22%. This is a boost from Louisiana-Pacific's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, February 27th. Louisiana-Pacific's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding LPX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Louisiana-Pacific Co. (NYSE:LPX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.