Redwood Investment Management LLC Makes New $1.43 Million Investment in Louisiana-Pacific Co. (NYSE:LPX)

Redwood Investment Management LLC purchased a new stake in shares of Louisiana-Pacific Co. (NYSE:LPX) during the 4th quarter, Holdings Channel.com reports. The fund purchased 13,780 shares of the building manufacturing company’s stock, valued at approximately $1,427,000.

Other hedge funds have also modified their holdings of the company. Truist Financial Corp grew its stake in shares of Louisiana-Pacific by 47.3% during the fourth quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company’s stock valued at $1,010,000 after purchasing an additional 3,129 shares during the last quarter. Symphony Financial Ltd. Co. bought a new stake in shares of Louisiana-Pacific during the fourth quarter valued at approximately $259,000. Victory Capital Management Inc. grew its stake in shares of Louisiana-Pacific by 23.8% during 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 during the last quarter. New York Life Investment Management LLC bought a new stake in shares of Louisiana-Pacific during the fourth quarter valued at approximately $699,000. Finally, Ritholtz Wealth Management grew its stake in shares of Louisiana-Pacific by 65.0% during the fourth quarter. Ritholtz Wealth Management now owns 7,381 shares of the building manufacturing company’s stock valued at $764,000 after purchasing an additional 2,907 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Louisiana-Pacific Trading Up 0.8%

LPX opened at $93.48 on Friday. The firm’s fifty day moving average is $89.05 and its two-hundred day moving average is $102.45. 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 firm has a market cap of $6.51 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.94. Louisiana-Pacific Co. has a twelve month low of $78.82 and a twelve 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 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. The company had revenue of $724.00 million for the quarter, compared to analyst estimates of $711.66 million. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the business posted $1.53 earnings per share. Equities research analysts anticipate that Louisiana-Pacific Co. will post 5.27 EPS for the current year.

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $1.12 annualized dividend and a yield of 1.20%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 19.65%.

Wall Street Analyst Weigh In

LPX has been the topic of several research analyst reports. Truist Financial decreased their price target on shares of Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. DA Davidson cut their price objective on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. TD Securities cut their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Royal Bank of Canada increased their price objective on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets increased their price objective 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. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.38.

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.