D. E. Shaw & Co. Inc. Cuts Position in Louisiana-Pacific Co. (NYSE:LPX)

D. E. Shaw & Co. Inc. decreased its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 24.4% during the fourth quarter, HoldingsChannel reports. The firm owned 138,983 shares of the building manufacturing company’s stock after selling 44,762 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Louisiana-Pacific were worth $14,392,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC increased its position in shares of 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 purchasing an additional 30,418 shares during the last quarter. Truist Financial Corp lifted its position in Louisiana-Pacific by 47.3% in the 4th quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company’s stock worth $1,010,000 after buying an additional 3,129 shares during the last quarter. Symphony Financial Ltd. Co. purchased a new stake in Louisiana-Pacific in the fourth quarter worth approximately $259,000. Victory Capital Management Inc. boosted its stake in Louisiana-Pacific by 23.8% in the fourth quarter. Victory Capital Management Inc. now owns 167,439 shares of the building manufacturing company’s stock worth $17,338,000 after buying an additional 32,210 shares in the last quarter. Finally, New York Life Investment Management LLC bought a new position in Louisiana-Pacific during the fourth quarter valued at approximately $699,000. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Down 0.6%

NYSE LPX opened at $93.98 on Wednesday. Louisiana-Pacific Co. has a 1 year low of $78.82 and a 1 year high of $122.87. The stock has a market capitalization of $6.54 billion, a PE ratio of 15.98, a PEG ratio of 1.24 and a beta of 1.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.86 and a quick ratio of 1.69. The business’s 50-day moving average is $88.97 and its 200 day moving average is $102.58.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data on Tuesday, May 6th. The building manufacturing company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The firm had revenue of $724.00 million for the quarter, compared to analyst estimates of $711.66 million. During the same period last year, the company earned $1.53 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts forecast that Louisiana-Pacific Co. will post 5.27 earnings per share for the current year.

Louisiana-Pacific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, May 20th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 19.65%.

Wall Street Analyst Weigh In

LPX has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. DA Davidson lowered their price target on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Truist Financial cut their price target on shares of Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. TD Securities decreased their price objective on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Finally, BMO Capital Markets increased their target price on Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, February 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Louisiana-Pacific currently has a consensus rating of “Hold” and a consensus price target of $107.38.

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.