Principal Financial Group Inc. Lowers Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Principal Financial Group Inc. cut its position in Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 281,430 shares of the building manufacturing company’s stock after selling 6,601 shares during the quarter. Principal Financial Group Inc.’s holdings in Louisiana-Pacific were worth $16,661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LPX. First Trust Advisors LP lifted its position in shares of Louisiana-Pacific by 24.7% in the 1st quarter. First Trust Advisors LP now owns 3,311,921 shares of the building manufacturing company’s stock worth $205,737,000 after purchasing an additional 655,132 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Louisiana-Pacific by 71.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,227,429 shares of the building manufacturing company’s stock valued at $62,832,000 after acquiring an additional 510,809 shares during the period. Bank of Montreal Can lifted its position in Louisiana-Pacific by 151.7% during the 3rd quarter. Bank of Montreal Can now owns 87,052 shares of the building manufacturing company’s stock valued at $4,568,000 after acquiring an additional 255,426 shares during the period. Waratah Capital Advisors Ltd. lifted its position in Louisiana-Pacific by 67.5% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 441,411 shares of the building manufacturing company’s stock valued at $22,596,000 after acquiring an additional 177,929 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Louisiana-Pacific by 22.5% during the 3rd quarter. Renaissance Technologies LLC now owns 953,400 shares of the building manufacturing company’s stock valued at $48,805,000 after acquiring an additional 175,300 shares during the period. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LPX. StockNews.com cut shares of Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Thursday, May 11th. Truist Financial decreased their target price on shares of Louisiana-Pacific from $49.00 to $47.00 and set a “hold” rating for the company in a report on Monday, February 27th. DA Davidson lifted their price target on shares of Louisiana-Pacific from $60.00 to $65.00 in a research note on Thursday, May 4th. Finally, TD Securities upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and lifted their price target for the stock from $63.00 to $75.00 in a research note on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.60.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock opened at $59.26 on Wednesday. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 7.44 and a beta of 1.64. The firm’s fifty day moving average is $58.43 and its 200 day moving average is $60.91. The company has a quick ratio of 1.30, a current ratio of 3.11 and a debt-to-equity ratio of 0.24. Louisiana-Pacific Co. has a 52-week low of $48.20 and a 52-week high of $74.41.

Louisiana-Pacific (NYSE:LPX – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The building manufacturing company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.27. The business had revenue of $584.00 million for the quarter, compared to analysts’ expectations of $618.23 million. Louisiana-Pacific had a net margin of 19.05% and a return on equity of 37.43%. The business’s revenue was down 56.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.08 earnings per share. Sell-side analysts forecast that Louisiana-Pacific Co. will post 2.53 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 12th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, May 11th. Louisiana-Pacific’s payout ratio is 12.06%.

Louisiana-Pacific Company Profile

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Louisiana-Pacific Corp. engages in the provision of building solutions. It operates through the following segments: Siding, Oriented Strand Board (OSB), South America, and Other. The Siding segment offers engineered wood siding under the brands of LP, SmartSide, Trim and Siding LP, SmartSide, ExpertFinish, Trim and Siding, LP BuilderSeries, Lap Siding, and Outdoor Building Solutions.