Point72 Asset Management L.P. Raises Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Point72 Asset Management L.P. increased its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 430.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 375,900 shares of the building manufacturing company’s stock after acquiring an additional 305,021 shares during the period. Point72 Asset Management L.P. owned approximately 0.54% of Louisiana-Pacific worth $38,924,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LPX. Alyeska Investment Group L.P. grew its position in Louisiana-Pacific by 1,736.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 891,351 shares of the building manufacturing company’s stock worth $92,299,000 after acquiring an additional 842,809 shares during the period. Norges Bank purchased a new stake in shares of Louisiana-Pacific in the 4th quarter valued at approximately $78,181,000. FMR LLC raised its stake in shares of Louisiana-Pacific by 17.1% in the 4th quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company’s stock valued at $384,031,000 after acquiring an additional 540,703 shares during the period. Palestra Capital Management LLC purchased a new stake in shares of Louisiana-Pacific in the 4th quarter valued at approximately $34,521,000. Finally, Principal Financial Group Inc. raised its stake in shares of Louisiana-Pacific by 215.0% in the 4th quarter. Principal Financial Group Inc. now owns 470,167 shares of the building manufacturing company’s stock valued at $48,686,000 after acquiring an additional 320,912 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Trading Up 2.0%

NYSE LPX opened at $95.35 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21. Louisiana-Pacific Co. has a 52 week low of $78.82 and a 52 week high of $122.87. The stock has a market capitalization of $6.64 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.24 and a beta of 1.94. The firm has a 50 day moving average of $89.16 and a two-hundred day moving average of $102.44.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly 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 net margin of 14.31% and a return on equity of 25.35%. The company had revenue of $724.00 million during the quarter, compared to analysts’ expectations of $711.66 million. During the same quarter in the previous year, the business posted $1.53 EPS. The firm’s revenue was up .0% on a year-over-year basis. As a group, research analysts expect that Louisiana-Pacific Co. will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.17%. The ex-dividend date is Tuesday, May 20th. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 19.65%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LPX. Royal Bank of Canada boosted their price target on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Truist Financial reduced 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 target price 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. TD Securities cut their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a research note on Thursday, February 20th. Finally, BMO Capital Markets upped their target price on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, February 20th. Two 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $107.38.

Louisiana-Pacific Company 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.