Corebridge Financial Inc. Has $7.38 Million Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Corebridge Financial Inc. cut its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,236 shares of the building manufacturing company’s stock after selling 3,270 shares during the period. Corebridge Financial Inc.’s holdings in Louisiana-Pacific were worth $7,376,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Louisiana-Pacific by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 7,087,989 shares of the building manufacturing company’s stock worth $733,961,000 after buying an additional 132,891 shares during the period. LPL Financial LLC grew its holdings in Louisiana-Pacific by 148.6% during the fourth quarter. LPL Financial LLC now owns 63,329 shares of the building manufacturing company’s stock valued at $6,558,000 after purchasing an additional 37,856 shares during the period. Fox Run Management L.L.C. bought a new stake in Louisiana-Pacific in the fourth quarter valued at approximately $335,000. KLP Kapitalforvaltning AS bought a new stake in Louisiana-Pacific in the fourth quarter valued at approximately $1,615,000. Finally, Hillsdale Investment Management Inc. raised its holdings in Louisiana-Pacific by 2.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 7,450 shares of the building manufacturing company’s stock worth $771,000 after purchasing an additional 200 shares during the period. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Trading Down 1.9 %

NYSE:LPX opened at $91.67 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. Louisiana-Pacific Co. has a twelve month low of $71.39 and a twelve month high of $122.87. The company has a market cap of $6.39 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02. The business has a 50 day moving average price of $103.96 and a two-hundred day moving average price of $106.42.

Louisiana-Pacific (NYSE:LPX) last released its earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.24. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The business had revenue of $681.00 million during the quarter, compared to the consensus estimate of $666.75 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, analysts expect that Louisiana-Pacific Co. will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, February 27th. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.26. Louisiana-Pacific’s dividend payout ratio is presently 19.05%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LPX. BMO Capital Markets upped their price objective on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. Truist Financial raised their price target on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. TD Securities decreased their price objective on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating for the company in a research report on Thursday, February 20th. Royal Bank of Canada restated an “outperform” rating and set a $125.00 target price on shares of Louisiana-Pacific in a report on Thursday, February 20th. Finally, DA Davidson cut their price target on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $111.50.

About Louisiana-Pacific

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.