Summit Global Investments Buys 2,033 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Summit Global Investments grew its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,121 shares of the building manufacturing company’s stock after buying an additional 2,033 shares during the period. Summit Global Investments’ holdings in Louisiana-Pacific were worth $1,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of LPX. CIBC Asset Management Inc bought a new stake in shares of Louisiana-Pacific during the third quarter valued at approximately $224,000. First Horizon Advisors Inc. raised its position in shares of Louisiana-Pacific by 77.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company’s stock valued at $50,000 after buying an additional 201 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Louisiana-Pacific by 32.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 662,496 shares of the building manufacturing company’s stock valued at $71,192,000 after buying an additional 162,976 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Louisiana-Pacific by 119.4% in the third quarter. Cerity Partners LLC now owns 80,336 shares of the building manufacturing company’s stock valued at $8,633,000 after purchasing an additional 43,717 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in shares of Louisiana-Pacific in the third quarter valued at $237,000. Institutional investors own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LPX. DA Davidson cut their target price on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, February 20th. 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. Truist Financial raised their target price 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. Loop Capital cut their target price on shares of Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating for the company in a report on Monday, February 24th. Finally, TD Securities cut their target price on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company in a report on Thursday, February 20th. Two research 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.com, Louisiana-Pacific presently has a consensus rating of “Hold” and a consensus price target of $111.50.

Louisiana-Pacific Stock Down 0.6 %

NYSE LPX opened at $92.84 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $105.75 and a two-hundred day moving average of $106.48. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.24 and a beta of 2.02. Louisiana-Pacific Co. has a 52 week low of $71.39 and a 52 week high of $122.87.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Wednesday, February 19th. The building manufacturing company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.79 by $0.24. The company had revenue of $681.00 million during the quarter, compared to analyst estimates of $666.75 million. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. Louisiana-Pacific’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.71 earnings per share. On average, analysts predict that Louisiana-Pacific Co. will post 5.27 earnings per share for the current 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. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Thursday, February 27th. Louisiana-Pacific’s payout ratio is currently 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.