Arrowstreet Capital Limited Partnership Sells 88,072 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Arrowstreet Capital Limited Partnership decreased its stake in Louisiana-Pacific Co. (NYSE:LPX) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 654,589 shares of the building manufacturing company’s stock after selling 88,072 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.93% of Louisiana-Pacific worth $67,783,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LPX. UMB Bank n.a. boosted its holdings in shares of Louisiana-Pacific by 98.8% during the 4th quarter. UMB Bank n.a. now owns 318 shares of the building manufacturing company’s stock valued at $33,000 after acquiring an additional 158 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Louisiana-Pacific during the fourth quarter valued at about $35,000. Versant Capital Management Inc grew its holdings in shares of 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 purchasing an additional 214 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Louisiana-Pacific by 65.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 589 shares of the building manufacturing company’s stock valued at $61,000 after buying an additional 232 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in Louisiana-Pacific by 56.2% in the 4th quarter. First Horizon Advisors Inc. now owns 720 shares of the building manufacturing company’s stock valued at $75,000 after buying an additional 259 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Louisiana-Pacific Price Performance

Shares of LPX opened at $92.05 on Tuesday. The firm has a market cap of $6.41 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02. Louisiana-Pacific Co. has a 52-week low of $71.39 and a 52-week high of $122.87. 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 business’s 50 day moving average price is $103.50 and its two-hundred day moving average price is $106.57.

Louisiana-Pacific (NYSE:LPX) last issued 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 net margin of 14.31% and a return on equity of 25.35%. The business had revenue of $681.00 million for the quarter, compared to analyst estimates of $666.75 million. During the same period in the prior year, the firm earned $0.71 earnings per share. Louisiana-Pacific’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts anticipate that Louisiana-Pacific Co. will post 5.27 EPS for the current year.

Louisiana-Pacific Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Truist Financial upped their price target 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 decreased their price objective on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company in a report on Thursday, February 20th. DA Davidson cut their target price on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price target on shares of Louisiana-Pacific in a research note on Thursday, February 20th. Finally, BMO Capital Markets upped their target price on Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.