Wealthfront Advisers LLC Takes Position in Louisiana-Pacific Co. (NYSE:LPX)

Wealthfront Advisers LLC purchased a new position in Louisiana-Pacific Co. (NYSE:LPX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 88,563 shares of the building manufacturing company’s stock, valued at approximately $9,171,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Louisiana-Pacific by 17.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,666 shares of the building manufacturing company’s stock worth $1,933,000 after purchasing an additional 2,730 shares during the last quarter. Amundi boosted its position in shares of Louisiana-Pacific by 0.8% in the 4th quarter. Amundi now owns 96,557 shares of the building manufacturing company’s stock worth $10,288,000 after purchasing an additional 761 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of Louisiana-Pacific in the 4th quarter worth $1,223,000. Inceptionr LLC bought a new position in shares of Louisiana-Pacific in the 4th quarter worth $298,000. Finally, Raymond James Financial Inc. bought a new position in shares of Louisiana-Pacific in the 4th quarter worth $3,020,000. 94.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Securities reduced their price target on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. Truist Financial lifted their target price on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, January 6th. DA Davidson reduced their target price on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. Loop Capital reduced their target price on Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, February 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $125.00 target price on shares of Louisiana-Pacific in a report on Thursday, February 20th. Two 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $111.50.

Insider Transactions at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $113.50, for a total value of $283,750.00. Following the completion of the sale, the director now directly owns 18,513 shares in the company, valued at $2,101,225.50. This represents a 11.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.26% of the company’s stock.

Louisiana-Pacific Trading Up 2.6 %

Shares of LPX stock opened at $91.87 on Thursday. The stock has a 50 day simple moving average of $107.99 and a 200 day simple moving average of $106.80. 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 stock has a market cap of $6.40 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02.

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, topping the consensus estimate 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 analysts’ expectations of $666.75 million. During the same period in the prior year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, February 27th. This is an increase from Louisiana-Pacific’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 1.22%. Louisiana-Pacific’s dividend payout ratio is 19.05%.

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.