Convergence Investment Partners LLC Makes New $870,000 Investment in Louisiana-Pacific Co. (NYSE:LPX)

Convergence Investment Partners LLC acquired a new position in shares of Louisiana-Pacific Co. (NYSE:LPX) during the 4th quarter, Holdings Channel reports. The fund acquired 8,405 shares of the building manufacturing company’s stock, valued at approximately $870,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. boosted its position 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 purchasing an additional 158 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Louisiana-Pacific during the fourth quarter worth about $35,000. Versant Capital Management Inc lifted its holdings in Louisiana-Pacific by 158.5% during the fourth 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. Harbor Capital Advisors Inc. bought a new position in Louisiana-Pacific during the third quarter worth about $38,000. Finally, Covestor Ltd lifted its holdings in shares of Louisiana-Pacific by 61.0% during the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock valued at $46,000 after purchasing an additional 163 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LPX shares. The Goldman Sachs Group lifted their price objective on Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. DA Davidson lifted their price target on shares of Louisiana-Pacific from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. 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 report on Monday, January 6th. TD Securities boosted their price objective on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price target on Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $108.38.

Louisiana-Pacific Trading Down 10.0 %

Shares of NYSE:LPX opened at $101.60 on Thursday. The company’s 50-day moving average price is $110.81 and its two-hundred day moving average price is $106.48. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.92 and a quick ratio of 1.69. Louisiana-Pacific Co. has a one year low of $66.77 and a one year high of $122.87. The stock has a market capitalization of $7.14 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 1.36 and a beta of 1.95.

Louisiana-Pacific (NYSE:LPX) last released its 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 24.50% and a net margin of 14.29%. The business had revenue of $681.00 million for the quarter, compared to analyst estimates of $666.75 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. Louisiana-Pacific’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Louisiana-Pacific Co. will post 5.64 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.28 per share. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, February 27th. Louisiana-Pacific’s dividend payout ratio is 19.31%.

Insider Buying and Selling at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $113.50, for a total value of $283,750.00. Following the sale, the director now directly owns 18,513 shares of the company’s stock, valued at approximately $2,101,225.50. This represents a 11.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.26% of the company’s stock.

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.