First Trust Advisors LP lifted its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 18.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 149,447 shares of the construction company’s stock after purchasing an additional 23,290 shares during the period. First Trust Advisors LP’s holdings in Louisiana-Pacific were worth $3,924,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Louisiana-Pacific by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,412,507 shares of the construction company’s stock worth $92,410,000 after purchasing an additional 375,243 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Louisiana-Pacific during the 3rd quarter worth approximately $265,000. Vident Investment Advisory LLC purchased a new stake in shares of Louisiana-Pacific during the 3rd quarter worth approximately $2,760,000. Acadian Asset Management LLC increased its stake in shares of Louisiana-Pacific by 117.3% during the 4th quarter. Acadian Asset Management LLC now owns 1,775,627 shares of the construction company’s stock worth $46,625,000 after purchasing an additional 958,649 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Louisiana-Pacific by 88.5% during the 3rd quarter. Wells Fargo & Company MN now owns 1,769,279 shares of the construction company’s stock worth $47,912,000 after purchasing an additional 830,446 shares during the last quarter. Institutional investors own 93.07% of the company’s stock.
Louisiana-Pacific Co. (NYSE LPX) opened at $28.42 on Friday. The company has a market cap of $4,119.48, a P/E ratio of 12.15, a P/E/G ratio of 2.19 and a beta of 1.58. Louisiana-Pacific Co. has a fifty-two week low of $22.07 and a fifty-two week high of $31.07. The company has a quick ratio of 4.07, a current ratio of 5.03 and a debt-to-equity ratio of 0.22.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Shareholders of record on Monday, February 26th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Friday, February 23rd. Louisiana-Pacific’s payout ratio is 19.48%.
In other Louisiana-Pacific news, EVP Neil Sherman sold 18,885 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $30.04, for a total value of $567,305.40. Following the completion of the transaction, the executive vice president now directly owns 62,770 shares of the company’s stock, valued at approximately $1,885,610.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.48% of the stock is owned by company insiders.
Several equities research analysts have recently issued reports on the stock. BMO Capital Markets set a $25.00 price target on shares of Louisiana-Pacific and gave the stock a “sell” rating in a research note on Tuesday, February 13th. Scotiabank raised their price objective on shares of Louisiana-Pacific from $29.00 to $30.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. DA Davidson raised their price objective on shares of Louisiana-Pacific to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Stephens set a $32.00 price objective on shares of Louisiana-Pacific and gave the stock a “hold” rating in a report on Tuesday, February 13th. Finally, Zacks Investment Research raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Louisiana-Pacific presently has an average rating of “Hold” and a consensus target price of $30.71.
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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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