Howe & Rusling Inc. Reduces Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Howe & Rusling Inc. cut its stake in Louisiana-Pacific Co. (NYSE:LPX) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,121 shares of the building manufacturing company’s stock after selling 151 shares during the period. Howe & Rusling Inc.’s holdings in Louisiana-Pacific were worth $427,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in LPX. FMR LLC lifted its holdings in shares of Louisiana-Pacific by 25.2% in the 3rd quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company’s stock valued at $340,427,000 after purchasing an additional 638,058 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Louisiana-Pacific by 215.0% in the fourth quarter. Principal Financial Group Inc. now owns 470,167 shares of the building manufacturing company’s stock valued at $48,686,000 after buying an additional 320,912 shares during the last quarter. State Street Corp boosted its holdings in shares of Louisiana-Pacific by 10.8% in the third quarter. State Street Corp now owns 2,154,561 shares of the building manufacturing company’s stock valued at $231,529,000 after acquiring an additional 210,113 shares during the period. Bamco Inc. NY grew its position in shares of Louisiana-Pacific by 65.7% during the third quarter. Bamco Inc. NY now owns 516,472 shares of the building manufacturing company’s stock worth $55,500,000 after acquiring an additional 204,828 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Louisiana-Pacific by 32.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 662,496 shares of the building manufacturing company’s stock valued at $71,192,000 after acquiring an additional 162,976 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Down 1.3 %

LPX opened at $93.53 on Friday. 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 12 month low of $71.39 and a 12 month high of $122.87. The stock has a market capitalization of $6.52 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.24 and a beta of 2.02. The business has a 50 day simple moving average of $104.42 and a 200-day simple moving average of $106.43.

Louisiana-Pacific (NYSE:LPX) last released 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. 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 prior year, the business posted $0.71 earnings per share. Louisiana-Pacific’s revenue was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that Louisiana-Pacific Co. will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued 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 1.20%. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.26. Louisiana-Pacific’s payout ratio is currently 19.05%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LPX. DA Davidson decreased their price target on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. TD Securities lowered their price target on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Truist Financial upped their price objective on Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Louisiana-Pacific in a research report on Thursday, February 20th. Finally, Loop Capital dropped 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. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $111.50.

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.