Dockside LLC bought a new position in Louisiana-Pacific Corporation (NYSE:LPX – Free Report) in the 4th quarter, Holdings Channel reports. The fund bought 16,114 shares of the building manufacturing company’s stock, valued at approximately $1,301,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Entropy Technologies LP purchased a new stake in Louisiana-Pacific in the 4th quarter worth approximately $1,508,000. Marshall Wace LLP grew its holdings in Louisiana-Pacific by 237.7% during the 4th quarter. Marshall Wace LLP now owns 127,566 shares of the building manufacturing company’s stock valued at $10,302,000 after buying an additional 89,788 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Louisiana-Pacific by 11.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 43,760 shares of the building manufacturing company’s stock valued at $3,535,000 after buying an additional 4,375 shares in the last quarter. Morgan Stanley grew its holdings in Louisiana-Pacific by 68.1% during the 4th quarter. Morgan Stanley now owns 964,411 shares of the building manufacturing company’s stock valued at $77,886,000 after buying an additional 390,808 shares in the last quarter. Finally, Channing Capital Management LLC grew its holdings in Louisiana-Pacific by 17.1% during the 4th quarter. Channing Capital Management LLC now owns 984,593 shares of the building manufacturing company’s stock valued at $79,516,000 after buying an additional 144,093 shares in the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.
Louisiana-Pacific Trading Up 0.6%
LPX stock opened at $75.21 on Friday. The firm has a fifty day moving average price of $72.99 and a 200 day moving average price of $80.10. Louisiana-Pacific Corporation has a fifty-two week low of $66.12 and a fifty-two week high of $102.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.48 and a current ratio of 3.26. The firm has a market cap of $5.25 billion, a PE ratio of 63.74, a price-to-earnings-growth ratio of 1.89 and a beta of 1.59.
Louisiana-Pacific Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. Louisiana-Pacific’s dividend payout ratio (DPR) is 101.69%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on LPX shares. BMO Capital Markets raised shares of Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a report on Thursday, May 7th. TD raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $104.00 target price on shares of Louisiana-Pacific in a research report on Wednesday, February 18th. Weiss Ratings upgraded Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Finally, Oppenheimer decreased their target price on Louisiana-Pacific from $115.00 to $107.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.25.
Louisiana-Pacific Company Profile
Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.
Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.
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