Prudential PLC Has $3.65 Million Position in Louisiana-Pacific Co. (NYSE:LPX)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Miracle Mile Advisors LLC boosted its position in shares of Louisiana-Pacific by 269.7% during the 4th quarter. Miracle Mile Advisors LLC now owns 41,698 shares of the building manufacturing company’s stock worth $4,318,000 after purchasing an additional 30,418 shares in the last quarter. Truist Financial Corp boosted its holdings in Louisiana-Pacific by 47.3% in the fourth quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company’s stock worth $1,010,000 after acquiring an additional 3,129 shares in the last quarter. Symphony Financial Ltd. Co. bought a new position in Louisiana-Pacific in the fourth quarter worth approximately $259,000. Victory Capital Management Inc. grew its stake in Louisiana-Pacific by 23.8% in the fourth quarter. Victory Capital Management Inc. now owns 167,439 shares of the building manufacturing company’s stock valued at $17,338,000 after acquiring an additional 32,210 shares during the period. Finally, New York Life Investment Management LLC bought a new stake in shares of Louisiana-Pacific during the fourth quarter valued at approximately $699,000. 94.73% of the stock is owned by institutional investors.

Louisiana-Pacific Trading Down 1.3 %

Shares of LPX stock 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. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 14.64, a PEG 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 50-day simple moving average of $101.38 and a two-hundred day simple moving average of $106.21.

Louisiana-Pacific (NYSE:LPX) last released its earnings results 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. The company had revenue of $681.00 million during the quarter, compared to analyst estimates of $666.75 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. Louisiana-Pacific’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Research analysts anticipate that Louisiana-Pacific Co. will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, February 27th. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 1.30%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 19.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LPX shares. 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 report on Monday, February 24th. Truist Financial raised their price objective on shares of 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 reissued an “outperform” rating and set a $125.00 target price on shares of Louisiana-Pacific in a research report on Thursday, February 20th. TD Securities dropped their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. Finally, DA Davidson cut their price target on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.