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Norges Bank invests $53.19 million in Louisiana-Pacific Co. (NYSE:LPX)


Norges Bank bought a new stake in shares of Louisiana-Pacific Co. during the fourth quarter. (NYSE:LPX – Free Report), according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 750,900 shares of the construction manufacturing company, valued at approximately $53,186,000. Norges Bank owned approximately 1.04% of Louisiana-Pacific at the end of the most recent reporting period.

Other hedge funds have also recently increased or decreased their stakes in the company. Signaturefd LLC increased its position in Louisiana-Pacific by 232.9% during the 4th quarter. Signaturefd LLC now owns 789 shares of the construction manufacturing company’s stock worth $56,000 after purchasing an additional 552 shares in the last quarter. Principal Securities Inc. acquired a new position in Louisiana-Pacific during the fourth quarter worth approximately $75,000. Larson Financial Group LLC increased its position in Louisiana-Pacific by 101.2% during the 4th quarter. Larson Financial Group LLC now owns 1,354 shares of the construction manufacturing company’s stock worth $96,000 after purchasing an additional 681 shares in the last quarter. Simplicity Solutions LLC acquired a new position in Louisiana-Pacific during the 4th quarter valued at approximately $204,000. Finally, Raymond James Trust NA acquired a new position in Louisiana-Pacific in the fourth quarter valued at approximately $206,000. 94.73% of the shares are held by institutional investors and hedge funds.

Insiders place their bets

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction that occurred on Friday, March 15. The stock sold at an average price of $77.58, for a total transaction of $193,950.00. Following the transaction, the director now owns 25,995 shares in the company, valued at $2,016,692.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC’s website. 1.53% of the shares are currently owned by company insiders.

Analyst upgrades and downgrades

Several brokers have recently released reports on LPX. StockNews.com upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 9. TheStreet downgraded Louisiana-Pacific from a “b-” rating to a “c+” rating in a research note on Thursday, February 29. BMO Capital Markets raised their price target on Louisiana-Pacific from $83.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday, May 9. TD Securities raised their price target on Louisiana-Pacific from $87.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, May 9. Finally, Loop Capital initiated coverage on Louisiana-Pacific in a research note on Friday, May 3. They set a hold rating and an $82.00 price target for the stock. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of ‘Moderate Buy’ and an average price target of $83.89.

Read our latest stock analysis on LPX

Louisiana-Pacific shares fall 0.3%

Shares of LPX opened at $89.63 on Wednesday. Louisiana Pacific Co. has a 52-week low of $49.47 and a 52-week high of $92.41. The company has a quick ratio of 1.75, a current ratio of 3.32 and a debt-to-equity ratio of 0.21. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 11.68, and a beta of 1.87. The stock’s 50-day moving average price is $81.12 and its 200-day moving average price is $72.80.

Louisiana-Pacific (NYSE:LPX – Get Free Report) posted its latest earnings results on Wednesday, May 8. The construction manufacturing company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.40. The company had revenue of $724.00 million for the quarter, compared to the consensus estimate of $686.84 million. Louisiana-Pacific had a return on equity of 20.87% and a net margin of 9.74%. The company’s revenue increased by 24.0% compared to the same quarter last year. During the same quarter of the previous year, the company earned earnings per share of $0.34. On average, sell-side analysts predict that Louisiana-Pacific Co. will post earnings per share of 5.79 for the current year.

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 5. Shareholders of record on Wednesday, May 22nd will receive a dividend of $0.26 per share. The ex-dividend date is Tuesday, May 21. This represents a dividend of $1.04 annually and a yield of 1.16%. Louisiana-Pacific’s dividend payout ratio currently stands at 28.57%.

Louisiana-Pacific Profile

(Free report)

Louisiana-Pacific Corporation, together with its subsidiaries, provides construction solutions primarily intended for use in the new construction, repair and remodeling, and exterior construction 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.

Read further

Quarterly Institutional Ownership for Louisiana-Pacific (NYSE:LPX)



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