Hillsdale Investment Management Inc. Boosts Position in Louisiana-Pacific Co. (NYSE:LPX)

Hillsdale Investment Management Inc. lifted its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 2.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,450 shares of the building manufacturing company’s stock after purchasing an additional 200 shares during the period. Hillsdale Investment Management Inc.’s holdings in Louisiana-Pacific were worth $771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC raised its holdings in Louisiana-Pacific by 25.2% in the 3rd quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company’s stock worth $340,427,000 after purchasing an additional 638,058 shares in the last quarter. State Street Corp increased its position in shares of Louisiana-Pacific by 10.8% during the third quarter. State Street Corp now owns 2,154,561 shares of the building manufacturing company’s stock valued at $231,529,000 after buying an additional 210,113 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Louisiana-Pacific by 32.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 662,496 shares of the building manufacturing company’s stock worth $71,192,000 after buying an additional 162,976 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Louisiana-Pacific by 3.3% in the fourth quarter. Bank of New York Mellon Corp now owns 613,752 shares of the building manufacturing company’s stock worth $63,554,000 after buying an additional 19,772 shares during the period. Finally, Bamco Inc. NY boosted its position in Louisiana-Pacific by 65.7% during the 3rd quarter. Bamco Inc. NY now owns 516,472 shares of the building manufacturing company’s stock valued at $55,500,000 after acquiring an additional 204,828 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LPX. TD Securities decreased their target price on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. DA Davidson lowered their price objective on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. BMO Capital Markets boosted their target price on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, February 20th. Truist Financial lifted 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Louisiana-Pacific in a report on Thursday, February 20th. Two 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $111.50.

Louisiana-Pacific Trading Down 0.6 %

Shares of NYSE:LPX opened at $92.84 on Monday. Louisiana-Pacific Co. has a 1 year low of $71.39 and a 1 year high of $122.87. The stock’s fifty day moving average price is $105.75 and its 200-day moving average price is $106.57. The company has a market cap of $6.47 billion, a P/E ratio of 15.79, a PEG ratio of 1.24 and a beta of 2.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.86 and a quick ratio of 1.69.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.24. The firm had revenue of $681.00 million for the quarter, compared to the consensus estimate of $666.75 million. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS. Sell-side analysts expect 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 paid a $0.28 dividend. 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 dividend yield of 1.21%. The ex-dividend date of this dividend was Thursday, February 27th. Louisiana-Pacific’s dividend payout ratio (DPR) is 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.