Corebridge Financial Inc. Sells 3,270 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Corebridge Financial Inc. lowered its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,236 shares of the building manufacturing company’s stock after selling 3,270 shares during the period. Corebridge Financial Inc. owned about 0.10% of Louisiana-Pacific worth $7,376,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LPX. Charles Schwab Investment Management Inc. increased its stake in Louisiana-Pacific by 32.6% in 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 acquiring an additional 162,976 shares during the period. Kingsview Wealth Management LLC bought a new position in Louisiana-Pacific during the third quarter worth about $237,000. Bank of Montreal Can boosted its holdings in Louisiana-Pacific by 2.4% during the third quarter. Bank of Montreal Can now owns 70,446 shares of the building manufacturing company’s stock valued at $7,552,000 after purchasing an additional 1,650 shares in the last quarter. FMR LLC grew its stake in shares of Louisiana-Pacific by 25.2% in the 3rd quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company’s stock valued at $340,427,000 after purchasing an additional 638,058 shares during the period. Finally, Townsquare Capital LLC raised its holdings in shares of Louisiana-Pacific by 17.9% in the 3rd quarter. Townsquare Capital LLC now owns 5,058 shares of the building manufacturing company’s stock worth $543,000 after buying an additional 768 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Performance

LPX stock opened at $91.67 on Friday. The company has a 50 day moving average price of $103.96 and a 200 day moving average price of $106.42. Louisiana-Pacific Co. has a fifty-two week low of $71.39 and a fifty-two week 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. The stock has a market capitalization of $6.39 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02.

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

Louisiana-Pacific Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on LPX shares. Truist Financial boosted their price target on Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, January 6th. BMO Capital Markets upped their target price on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, February 20th. Loop Capital dropped their target price on shares of Louisiana-Pacific from $117.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, February 24th. DA Davidson reduced 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 report on Thursday, February 20th. Finally, TD Securities dropped their price objective 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 analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $111.50.

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.