Louisiana-Pacific Co. (NYSE:LPX) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 19.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 146,900 shares of the building manufacturing company’s stock after selling 35,700 shares during the period. Canada Pension Plan Investment Board’s holdings in Louisiana-Pacific were worth $15,211,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LPX. UMB Bank n.a. boosted its stake in shares of Louisiana-Pacific by 98.8% during the fourth quarter. UMB Bank n.a. now owns 318 shares of the building manufacturing company’s stock worth $33,000 after buying an additional 158 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Louisiana-Pacific during the 4th quarter valued at approximately $35,000. Versant Capital Management Inc lifted its position in 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 during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Louisiana-Pacific by 65.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 589 shares of the building manufacturing company’s stock valued at $61,000 after purchasing an additional 232 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of Louisiana-Pacific by 56.2% during the fourth quarter. First Horizon Advisors Inc. now owns 720 shares of the building manufacturing company’s stock worth $75,000 after purchasing an additional 259 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on LPX shares. Truist Financial boosted their price objective on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, January 6th. TD Securities dropped their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. BMO Capital Markets raised their price objective 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. DA Davidson cut their target price on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Louisiana-Pacific in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $111.50.

Louisiana-Pacific Stock Performance

LPX opened at $84.14 on Monday. Louisiana-Pacific Co. has a 1-year low of $71.95 and a 1-year high of $122.87. The stock has a market cap of $5.86 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.24 and a beta of 1.86. The stock’s 50 day simple moving average is $93.90 and its 200 day simple moving average is $104.48. 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) last posted its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.24. The company had revenue of $681.00 million for the quarter, compared to analyst estimates of $666.75 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. Louisiana-Pacific’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. As a group, equities analysts anticipate 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. Shareholders of record on Thursday, February 27th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.33%. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.26. 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.