Bank of New York Mellon Corp lifted its stake in Louisiana-Pacific Co. (NYSE:LPX) by 9.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,734,888 shares of the construction company’s stock after purchasing an additional 322,381 shares during the quarter. Bank of New York Mellon Corp’s holdings in Louisiana-Pacific were worth $98,078,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Louisiana-Pacific in the 3rd quarter valued at approximately $271,000. Macquarie Group Ltd. purchased a new position in shares of Louisiana-Pacific in the 3rd quarter valued at approximately $265,000. Vident Investment Advisory LLC purchased a new position in shares of Louisiana-Pacific in the 3rd quarter valued at approximately $2,760,000. Acadian Asset Management LLC raised its position in shares of Louisiana-Pacific by 117.3% in the 4th quarter. Acadian Asset Management LLC now owns 1,775,627 shares of the construction company’s stock valued at $46,625,000 after purchasing an additional 958,649 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Louisiana-Pacific by 30.4% in the 3rd quarter. Canada Pension Plan Investment Board now owns 521,200 shares of the construction company’s stock valued at $14,114,000 after purchasing an additional 121,600 shares during the last quarter. 93.61% of the stock is owned by hedge funds and other institutional investors.
LPX has been the subject of a number of recent research reports. BMO Capital Markets set a $25.00 price target on shares of Louisiana-Pacific and gave the stock a “sell” rating in a research report on Tuesday, February 13th. DA Davidson raised their price target on shares of Louisiana-Pacific to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Stephens set a $32.00 price target on shares of Louisiana-Pacific and gave the stock a “hold” rating in a research report on Tuesday, February 13th. Zacks Investment Research lowered shares of Louisiana-Pacific from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Vertical Research raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.71.
Louisiana-Pacific Co. (NYSE:LPX) opened at $28.50 on Thursday. Louisiana-Pacific Co. has a 1 year low of $22.07 and a 1 year high of $31.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.07 and a current ratio of 5.03. The stock has a market cap of $4,130.00, a P/E ratio of 11.18, a price-to-earnings-growth ratio of 2.29 and a beta of 1.62.
Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings results on Tuesday, February 13th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.15. The company had revenue of $710.60 million during the quarter, compared to analyst estimates of $654.26 million. Louisiana-Pacific had a net margin of 16.35% and a return on equity of 29.37%. Louisiana-Pacific’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS. equities analysts predict that Louisiana-Pacific Co. will post 2.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Monday, February 26th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.82%. Louisiana-Pacific’s payout ratio is 20.39%.
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Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.
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