Prudential PLC Purchases 5,691 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Prudential PLC lifted its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 19.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,248 shares of the building manufacturing company’s stock after acquiring an additional 5,691 shares during the period. Prudential PLC owned approximately 0.05% of Louisiana-Pacific worth $3,650,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Louisiana-Pacific in the fourth quarter valued at about $78,181,000. Principal Financial Group Inc. boosted its stake in shares of Louisiana-Pacific by 215.0% in the 4th quarter. Principal Financial Group Inc. now owns 470,167 shares of the building manufacturing company’s stock valued at $48,686,000 after purchasing an additional 320,912 shares in the last quarter. State Street Corp boosted its stake in shares of Louisiana-Pacific by 10.8% in the 3rd quarter. State Street Corp now owns 2,154,561 shares of the building manufacturing company’s stock valued at $231,529,000 after purchasing an additional 210,113 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Louisiana-Pacific by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 7,087,989 shares of the building manufacturing company’s stock valued at $733,961,000 after purchasing an additional 132,891 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in Louisiana-Pacific during the 4th quarter worth approximately $9,171,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LPX. Truist Financial boosted their target price on shares of 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 reduced their price objective on Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. BMO Capital Markets increased their target price on Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. DA Davidson reduced their price target on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Finally, TD Securities dropped their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company in a 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Louisiana-Pacific currently has a consensus rating of “Hold” and an average price target of $111.50.

Louisiana-Pacific Stock Performance

NYSE:LPX opened at $86.08 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.86. Louisiana-Pacific Co. has a fifty-two week low of $71.39 and a fifty-two week high of $122.87. The company has a 50 day simple moving average of $101.38 and a two-hundred day simple moving average of $106.21. The company has a market capitalization of $6.00 billion, a PE ratio of 14.64, a P/E/G ratio of 1.24 and a beta of 2.02.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share 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 company had revenue of $681.00 million during the quarter, compared to analysts’ expectations of $666.75 million. During the same period in the prior year, the company posted $0.71 earnings per share. Louisiana-Pacific’s revenue for the quarter was up 3.5% compared to the same quarter last year. Research analysts anticipate that Louisiana-Pacific Co. will post 5.27 earnings per share for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, February 27th. Louisiana-Pacific’s payout ratio is currently 19.05%.

About Louisiana-Pacific

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.