Kennondale Capital Management LLC Invests $653,000 in Louisiana-Pacific Co. (NYSE:LPX)

Kennondale Capital Management LLC acquired a new position in Louisiana-Pacific Co. (NYSE:LPX) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,306 shares of the building manufacturing company’s stock, valued at approximately $653,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LPX. UMB Bank n.a. increased its stake in Louisiana-Pacific by 98.8% in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Louisiana-Pacific in the 4th quarter worth approximately $35,000. Versant Capital Management Inc increased its stake in Louisiana-Pacific by 158.5% in 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 last quarter. First Horizon Advisors Inc. increased its stake in Louisiana-Pacific by 77.3% in 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 during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Louisiana-Pacific by 65.0% in 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 during the last quarter. 94.73% of the stock is owned by institutional investors.

Louisiana-Pacific Trading Up 2.1 %

Shares of NYSE:LPX opened at $93.52 on Tuesday. Louisiana-Pacific Co. has a 52-week low of $71.39 and a 52-week high of $122.87. The stock has a market cap of $6.52 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.24 and a beta of 2.02. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $107.16 and a 200-day moving average price of $106.66.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data 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. The firm had revenue of $681.00 million during the quarter, compared to analysts’ expectations of $666.75 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. Equities analysts predict that Louisiana-Pacific Co. will post 5.27 EPS for the current year.

Louisiana-Pacific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a dividend of $0.28 per share. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 1.20%. The ex-dividend date was Thursday, February 27th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 19.05%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LPX shares. TD Securities reduced their price objective on 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 lifted their price objective on Louisiana-Pacific from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note 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. Truist Financial lifted their target price on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 target price on shares of Louisiana-Pacific in a report on Thursday, February 20th. Two research 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. According to MarketBeat, Louisiana-Pacific has an average rating of “Hold” and an average target price of $111.50.

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.