Patten & Patten Inc. TN Has $21.63 Million Stake in Louisiana-Pacific Co. (NYSE:LPX)

Patten & Patten Inc. TN decreased its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 208,909 shares of the building manufacturing company’s stock after selling 2,177 shares during the quarter. Louisiana-Pacific accounts for approximately 1.4% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 13th largest position. Patten & Patten Inc. TN owned 0.30% of Louisiana-Pacific worth $21,633,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LPX. Natixis Advisors LLC boosted its holdings in shares of Louisiana-Pacific by 0.6% during the 4th quarter. Natixis Advisors LLC now owns 29,753 shares of the building manufacturing company’s stock worth $3,081,000 after buying an additional 188 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Louisiana-Pacific by 1.7% in the 4th quarter. First Eagle Investment Management LLC now owns 155,431 shares of the building manufacturing company’s stock worth $16,095,000 after purchasing an additional 2,550 shares in the last quarter. 12th Street Asset Management Company LLC lifted its holdings in shares of Louisiana-Pacific by 3.7% in the 4th quarter. 12th Street Asset Management Company LLC now owns 44,410 shares of the building manufacturing company’s stock worth $4,599,000 after purchasing an additional 1,599 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Louisiana-Pacific by 33.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 9,554 shares of the building manufacturing company’s stock worth $989,000 after purchasing an additional 2,376 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Louisiana-Pacific by 52.1% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 230,738 shares of the building manufacturing company’s stock worth $23,865,000 after purchasing an additional 79,038 shares in the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $91.71 on Friday. The stock has a market capitalization of $6.39 billion, a PE ratio of 15.60, a P/E/G ratio of 1.24 and a beta of 2.02. The business has a 50 day simple moving average of $107.16 and a two-hundred day simple moving average of $106.59. 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 Co. has a 1-year low of $71.39 and a 1-year high of $122.87.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 EPS for the quarter, topping 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 quarter in the previous year, the business earned $0.71 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts predict that Louisiana-Pacific Co. will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.28 dividend. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Thursday, February 27th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 19.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. DA Davidson dropped their price objective on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. TD Securities dropped 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. Truist Financial lifted their target price on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Loop Capital lowered their target price on Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $111.50.

Insider Activity

In related news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were 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 owns 18,513 shares of the company’s stock, valued at approximately $2,101,225.50. The trade was a 11.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.26% of the company’s stock.

Louisiana-Pacific 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.