Louisiana-Pacific Co. (NYSE:LPX) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN cut its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 208,909 shares of the building manufacturing company’s stock after selling 2,177 shares during the quarter. Louisiana-Pacific comprises about 1.4% of Patten & Patten Inc. TN’s holdings, making the stock its 13th largest position. Patten & Patten Inc. TN’s holdings in Louisiana-Pacific were worth $21,633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Hanseatic Management Services Inc. raised its position in Louisiana-Pacific by 12.0% in the fourth quarter. Hanseatic Management Services Inc. now owns 935 shares of the building manufacturing company’s stock worth $97,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Louisiana-Pacific by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the building manufacturing company’s stock worth $1,802,000 after acquiring an additional 100 shares in the last quarter. CIBC Asset Management Inc raised its position in Louisiana-Pacific by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 2,202 shares of the building manufacturing company’s stock worth $228,000 after acquiring an additional 114 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of Louisiana-Pacific by 5.6% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,340 shares of the building manufacturing company’s stock valued at $242,000 after buying an additional 124 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of Louisiana-Pacific by 7.1% in the fourth quarter. Sanctuary Advisors LLC now owns 1,862 shares of the building manufacturing company’s stock valued at $193,000 after buying an additional 124 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Performance

LPX opened at $91.71 on Friday. Louisiana-Pacific Co. has a 12-month low of $71.39 and a 12-month high of $122.87. The firm has a market capitalization of $6.39 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02. The stock’s 50 day moving average price is $107.16 and its two-hundred day moving average price is $106.59. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share (EPS) 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 firm had revenue of $681.00 million during the quarter, compared to the consensus estimate of $666.75 million. During the same quarter in the previous year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities analysts forecast that Louisiana-Pacific Co. will post 5.27 earnings per share for the current 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 represents a $1.12 dividend on an annualized basis and a dividend yield of 1.22%. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, February 27th. Louisiana-Pacific’s payout ratio is 19.05%.

Insider Activity

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $113.50, for a total value of $283,750.00. Following the sale, the director now owns 18,513 shares in the company, valued at $2,101,225.50. This represents a 11.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

LPX has been the subject of several analyst reports. TD Securities cut their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company 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 research report on Monday, February 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Louisiana-Pacific in a research report on Thursday, February 20th. Truist Financial upped their target price on Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, 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 research report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.