Summit Global Investments Purchases 2,033 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Summit Global Investments increased its position in Louisiana-Pacific Co. (NYSE:LPX) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,121 shares of the building manufacturing company’s stock after purchasing an additional 2,033 shares during the period. Summit Global Investments’ holdings in Louisiana-Pacific were worth $1,773,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Louisiana-Pacific by 36.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 21,045 shares of the building manufacturing company’s stock worth $2,261,000 after purchasing an additional 5,645 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in Louisiana-Pacific by 269.7% during the 4th quarter. Miracle Mile Advisors LLC now owns 41,698 shares of the building manufacturing company’s stock valued at $4,318,000 after acquiring an additional 30,418 shares during the period. Truist Financial Corp lifted its stake in Louisiana-Pacific by 47.3% during the 4th quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company’s stock valued at $1,010,000 after acquiring an additional 3,129 shares during the period. Symphony Financial Ltd. Co. bought a new position in Louisiana-Pacific during the 4th quarter valued at about $259,000. Finally, Victory Capital Management Inc. lifted its stake in Louisiana-Pacific by 23.8% during the 4th quarter. Victory Capital Management Inc. now owns 167,439 shares of the building manufacturing company’s stock valued at $17,338,000 after acquiring an additional 32,210 shares during the period. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LPX shares. Truist Financial upped their target price on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Louisiana-Pacific in a research note on Thursday, February 20th. Loop Capital lowered their target price on shares of Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets upped their target price on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th. Finally, DA Davidson lowered their price objective 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. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $111.50.

Louisiana-Pacific Stock Performance

LPX opened at $92.84 on Friday. The company has a current ratio of 2.86, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.24 and a beta of 2.02. The company’s 50 day moving average is $105.75 and its 200 day moving average is $106.48. Louisiana-Pacific Co. has a 12-month low of $71.39 and a 12-month high of $122.87.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $666.75 million. During the same quarter last year, the business earned $0.71 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Louisiana-Pacific Co. will post 5.27 EPS for the current year.

Louisiana-Pacific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.28 per share. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.26. The ex-dividend date was Thursday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 1.21%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 19.05%.

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.