Meeder Asset Management Inc. Sells 27,448 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Meeder Asset Management Inc. decreased its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 88.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,641 shares of the building manufacturing company’s stock after selling 27,448 shares during the quarter. Meeder Asset Management Inc.’s holdings in Louisiana-Pacific were worth $377,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LPX. Miracle Mile Advisors LLC boosted its stake 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 buying an additional 30,418 shares during the last quarter. Truist Financial Corp raised its holdings in Louisiana-Pacific by 47.3% during 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. acquired a new position in Louisiana-Pacific during the fourth quarter valued at 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 purchasing an additional 32,210 shares in the last quarter. Finally, New York Life Investment Management LLC acquired a new position in shares of Louisiana-Pacific during the 4th quarter worth approximately $699,000. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Trading Up 0.5 %

Shares of LPX stock opened at $92.05 on Tuesday. The stock has a market cap of $6.41 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02. Louisiana-Pacific Co. has a 1 year low of $71.39 and a 1 year high of $122.87. The company has a current ratio of 2.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. The stock has a 50 day simple moving average of $103.50 and a 200 day simple moving average of $106.57.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company posted $0.71 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts predict that Louisiana-Pacific Co. will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a $0.28 dividend. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, February 27th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 19.05%.

Analysts Set New Price Targets

Several research firms recently weighed in on LPX. TD Securities decreased 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. Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, February 20th. BMO Capital Markets raised their target price on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th. Truist Financial boosted their price target on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Loop Capital cut their price objective on Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.