Comerica Bank Trims Position in Louisiana-Pacific Co. (NYSE:LPX)

Comerica Bank reduced its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 6.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,153 shares of the building manufacturing company’s stock after selling 1,450 shares during the period. Comerica Bank’s holdings in Louisiana-Pacific were worth $2,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. raised its stake in Louisiana-Pacific by 98.8% during the 4th quarter. UMB Bank n.a. now owns 318 shares of the building manufacturing company’s stock worth $33,000 after acquiring an additional 158 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Louisiana-Pacific during the fourth quarter valued at about $35,000. Harbor Capital Advisors Inc. increased its stake in Louisiana-Pacific by 65.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 589 shares of the building manufacturing company’s stock worth $61,000 after acquiring an additional 232 shares during the last quarter. First Horizon Advisors Inc. increased its position in Louisiana-Pacific by 56.2% in the fourth quarter. First Horizon Advisors Inc. now owns 720 shares of the building manufacturing company’s stock worth $75,000 after purchasing an additional 259 shares during the last quarter. Finally, Hanseatic Management Services Inc. raised its position in shares of Louisiana-Pacific by 12.0% during the 4th quarter. Hanseatic Management Services Inc. now owns 935 shares of the building manufacturing company’s stock valued at $97,000 after buying an additional 100 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on LPX. TD Securities dropped their price objective 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. Truist Financial decreased their target price on Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. DA Davidson dropped their price objective on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Royal Bank of Canada raised their price objective on Louisiana-Pacific from $114.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, BMO Capital Markets upped their price target on Louisiana-Pacific from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.38.

Louisiana-Pacific Stock Performance

LPX opened at $90.36 on Friday. The firm has a 50 day moving average of $89.08 and a two-hundred day moving average of $102.74. The firm has a market capitalization of $6.30 billion, a PE ratio of 15.37, a P/E/G ratio of 1.24 and a beta of 1.94. The company has a current ratio of 2.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. Louisiana-Pacific Co. has a 12-month low of $78.82 and a 12-month high of $122.87.

Louisiana-Pacific (NYSE:LPX) last posted its earnings results on Tuesday, May 6th. The building manufacturing company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.13 by $0.14. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The firm had revenue of $724.00 million for the quarter, compared to analyst estimates of $711.66 million. During the same period last year, the company earned $1.53 earnings per share. Louisiana-Pacific’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts anticipate that Louisiana-Pacific Co. will post 5.27 EPS for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be issued a $0.28 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $1.12 dividend on an annualized basis and a yield of 1.24%. Louisiana-Pacific’s payout ratio is 19.65%.

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.