Raymond James Financial Inc. Invests $3.02 Million in Louisiana-Pacific Co. (NYSE:LPX)

Raymond James Financial Inc. purchased a new stake in shares of Louisiana-Pacific Co. (NYSE:LPX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 29,165 shares of the building manufacturing company’s stock, valued at approximately $3,020,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Louisiana-Pacific by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 7,087,989 shares of the building manufacturing company’s stock valued at $733,961,000 after purchasing an additional 132,891 shares during the last quarter. FMR LLC raised its stake in Louisiana-Pacific by 17.1% during the fourth quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company’s stock valued at $384,031,000 after buying an additional 540,703 shares during the last quarter. Norges Bank bought a new stake in Louisiana-Pacific in the fourth quarter worth $78,181,000. Bank of New York Mellon Corp grew its stake in shares of Louisiana-Pacific by 3.3% in the fourth quarter. Bank of New York Mellon Corp now owns 613,752 shares of the building manufacturing company’s stock worth $63,554,000 after acquiring an additional 19,772 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Louisiana-Pacific by 6.4% during the third quarter. Franklin Resources Inc. now owns 500,374 shares of the building manufacturing company’s stock valued at $51,984,000 after acquiring an additional 30,297 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on LPX. TD Securities cut their price objective on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a research report on Thursday, February 20th. DA Davidson reduced 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 report on Thursday, February 20th. Loop Capital lowered their price objective on Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 target price on shares of Louisiana-Pacific in a report on Thursday, February 20th. Finally, Truist Financial lowered their price target on Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Louisiana-Pacific has a consensus rating of “Hold” and an average target price of $108.63.

Louisiana-Pacific Stock Up 0.8 %

Louisiana-Pacific stock opened at $87.20 on Tuesday. The stock has a market cap of $6.08 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.86. Louisiana-Pacific Co. has a one year low of $72.06 and a one year high of $122.87. The stock has a fifty day moving average of $90.90 and a 200 day moving average of $103.60.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data 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 firm had revenue of $681.00 million for the quarter, compared to analysts’ expectations of $666.75 million. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 EPS. As a group, sell-side analysts predict that Louisiana-Pacific Co. will post 5.27 EPS for the current year.

Louisiana-Pacific Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a dividend of $0.28 per share. This is an increase 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 dividend yield of 1.28%. Louisiana-Pacific’s payout ratio 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.