Vestcor Inc Invests $579,000 in Louisiana-Pacific Co. (NYSE:LPX)

Vestcor Inc bought a new stake in Louisiana-Pacific Co. (NYSE:LPX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,590 shares of the building manufacturing company’s stock, valued at approximately $579,000.

Several other hedge funds have also bought and sold shares of the company. FMR LLC raised its stake in Louisiana-Pacific by 25.2% in the third quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company’s stock valued at $340,427,000 after buying an additional 638,058 shares during the period. State Street Corp increased its holdings in shares of Louisiana-Pacific by 10.8% during the 3rd quarter. State Street Corp now owns 2,154,561 shares of the building manufacturing company’s stock worth $231,529,000 after acquiring an additional 210,113 shares during the last quarter. Pacer Advisors Inc. raised its stake in Louisiana-Pacific by 11,417.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,106,410 shares of the building manufacturing company’s stock valued at $118,895,000 after acquiring an additional 1,096,804 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Louisiana-Pacific by 32.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 662,496 shares of the building manufacturing company’s stock valued at $71,192,000 after acquiring an additional 162,976 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Louisiana-Pacific by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 613,752 shares of the building manufacturing company’s stock valued at $63,554,000 after purchasing an additional 19,772 shares during the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LPX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price objective on shares of Louisiana-Pacific in a research report on Thursday, February 20th. Loop Capital cut their price objective on shares of Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, February 24th. DA Davidson cut their price objective on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Truist Financial raised their price objective on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets raised their price objective on shares of 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, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $111.50.

Louisiana-Pacific Stock Up 2.6 %

NYSE LPX opened at $91.71 on Monday. 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 1-year low of $71.39 and a 1-year high of $122.87. The company has a 50 day moving average of $107.16 and a 200-day moving average of $106.66. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.24 and a beta of 2.02.

Louisiana-Pacific (NYSE:LPX) last released its quarterly 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 net margin of 14.31% and a return on equity of 25.35%. The company had revenue of $681.00 million during the quarter, compared to the consensus estimate of $666.75 million. During the same period in the previous year, the business earned $0.71 earnings per share. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities research analysts expect that Louisiana-Pacific Co. will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.22%. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, February 27th. Louisiana-Pacific’s payout ratio is presently 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.