Millennium Management LLC Lowers Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Millennium Management LLC lessened its stake in Louisiana-Pacific Co. (NYSE:LPX) by 61.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,307 shares of the building manufacturing company’s stock after selling 125,382 shares during the quarter. Millennium Management LLC owned 0.11% of Louisiana-Pacific worth $8,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Louisiana-Pacific by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 496,246 shares of the building manufacturing company’s stock worth $51,386,000 after purchasing an additional 27,083 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Louisiana-Pacific by 2.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,266,145 shares of the building manufacturing company’s stock worth $131,109,000 after purchasing an additional 24,285 shares during the last quarter. Janus Henderson Group PLC raised its position in Louisiana-Pacific by 50.5% in the 4th quarter. Janus Henderson Group PLC now owns 113,623 shares of the building manufacturing company’s stock worth $11,770,000 after buying an additional 38,101 shares during the last quarter. Graham Capital Management L.P. raised its position in Louisiana-Pacific by 206.3% in the 4th quarter. Graham Capital Management L.P. now owns 37,298 shares of the building manufacturing company’s stock worth $3,862,000 after buying an additional 25,120 shares during the last quarter. Finally, Ethic Inc. raised its position in Louisiana-Pacific by 10.6% in the 4th quarter. Ethic Inc. now owns 3,257 shares of the building manufacturing company’s stock worth $337,000 after buying an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LPX. Royal Bank of Canada boosted their target price on Louisiana-Pacific from $114.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Loop Capital raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research report on Wednesday, May 7th. Truist Financial decreased their target price on Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. DA Davidson decreased their target price on Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. Finally, BMO Capital Markets boosted their target price on Louisiana-Pacific from $105.00 to $108.00 and gave the stock a “market perform” rating in a research 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 data from MarketBeat.com, Louisiana-Pacific presently has a consensus rating of “Hold” and an average price target of $107.38.

Louisiana-Pacific Trading Up 1.4%

Shares of Louisiana-Pacific stock opened at $92.74 on Monday. The company’s fifty day simple moving average is $89.24 and its 200-day simple moving average is $102.04. The stock has a market capitalization of $6.45 billion, a PE ratio of 15.77, a P/E/G ratio of 1.24 and a beta of 1.94. Louisiana-Pacific Co. has a 1-year low of $78.82 and a 1-year high of $122.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.86 and a quick ratio of 1.69.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Tuesday, May 6th. The building manufacturing company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. The company had revenue of $724.00 million during the quarter, compared to the consensus estimate of $711.66 million. Louisiana-Pacific had a return on equity of 25.35% and a net margin of 14.31%. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 EPS. As a group, equities analysts anticipate that Louisiana-Pacific Co. will post 5.27 earnings per share for the current year.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be paid a dividend of $0.28 per share. The ex-dividend date is Tuesday, May 20th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.21%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 19.65%.

Louisiana-Pacific 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.