Price T Rowe Associates Inc. MD Has $199.70 Million Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Price T Rowe Associates Inc. MD cut its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 33.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,928,512 shares of the building manufacturing company’s stock after selling 955,105 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Louisiana-Pacific were worth $199,698,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Miracle Mile Advisors LLC increased its holdings in Louisiana-Pacific by 269.7% in the 4th quarter. Miracle Mile Advisors LLC now owns 41,698 shares of the building manufacturing company’s stock worth $4,318,000 after purchasing an additional 30,418 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Louisiana-Pacific by 47.3% during the fourth quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company’s stock worth $1,010,000 after purchasing an additional 3,129 shares during the last quarter. Symphony Financial Ltd. Co. acquired a new position in shares of Louisiana-Pacific in the fourth quarter valued at approximately $259,000. Victory Capital Management Inc. raised its holdings in Louisiana-Pacific by 23.8% in the 4th quarter. Victory Capital Management Inc. now owns 167,439 shares of the building manufacturing company’s stock valued at $17,338,000 after buying an additional 32,210 shares during the last quarter. Finally, New York Life Investment Management LLC acquired a new stake in Louisiana-Pacific during the 4th quarter worth approximately $699,000. 94.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LPX shares. BMO Capital Markets raised their price target on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th. Loop Capital cut their target price on Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, February 24th. Truist Financial decreased their target price on shares of Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. TD Securities decreased their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price target on shares of Louisiana-Pacific in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.63.

Louisiana-Pacific Trading Down 0.5 %

Shares of LPX stock opened at $86.59 on Friday. Louisiana-Pacific Co. has a 52-week low of $72.06 and a 52-week high of $122.87. The company has a 50-day simple moving average of $91.19 and a two-hundred day simple moving average of $103.73. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.86. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.24 and a beta of 1.86.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly 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. 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 analysts’ expectations of $666.75 million. During the same period in the previous year, the business earned $0.71 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Research analysts anticipate that Louisiana-Pacific Co. will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a $0.28 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.12 annualized dividend and a yield of 1.29%. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.26. Louisiana-Pacific’s dividend payout ratio is currently 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.