KLP Kapitalforvaltning AS Takes Position in Louisiana-Pacific Co. (NYSE:LPX)

KLP Kapitalforvaltning AS bought a new position in shares of Louisiana-Pacific Co. (NYSE:LPX) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 15,600 shares of the building manufacturing company’s stock, valued at approximately $1,615,000.

Several other hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of Louisiana-Pacific by 98.8% in the fourth quarter. UMB Bank n.a. now owns 318 shares of the building manufacturing company’s stock worth $33,000 after buying an additional 158 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Louisiana-Pacific in the 4th quarter worth $35,000. Versant Capital Management Inc lifted its position in Louisiana-Pacific by 158.5% during the 4th quarter. Versant Capital Management Inc now owns 349 shares of the building manufacturing company’s stock worth $36,000 after acquiring an additional 214 shares during the period. Harbor Capital Advisors Inc. grew its stake in Louisiana-Pacific by 65.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 589 shares of the building manufacturing company’s stock valued at $61,000 after purchasing an additional 232 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of Louisiana-Pacific by 56.2% in the fourth quarter. First Horizon Advisors Inc. now owns 720 shares of the building manufacturing company’s stock valued at $75,000 after purchasing an additional 259 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Louisiana-Pacific Price Performance

Shares of Louisiana-Pacific stock opened at $91.67 on Friday. The firm has a market cap of $6.39 billion, a PE ratio of 15.59, a P/E/G ratio of 1.24 and a beta of 2.02. The business has a 50-day moving average price of $103.96 and a 200 day moving average price of $106.42. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21. Louisiana-Pacific Co. has a twelve month low of $71.39 and a twelve month high of $122.87.

Louisiana-Pacific (NYSE:LPX) last announced 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. The business had revenue of $681.00 million during the quarter, compared to the consensus estimate of $666.75 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 EPS. Sell-side 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 announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.28 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.26. Louisiana-Pacific’s payout ratio is currently 19.05%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. TD Securities dropped their target price 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. BMO Capital Markets increased 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 note on Thursday, February 20th. Truist Financial upped their price target on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a report on Monday, January 6th. DA Davidson reduced their price objective on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Finally, Loop Capital lowered their target price on Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $111.50.

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.