Kiwi Wealth Investments Limited Partnership boosted its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 34.0% during the fourth quarter, Holdings Channel reports. The fund owned 109,538 shares of the construction company’s stock after acquiring an additional 27,792 shares during the period. Kiwi Wealth Investments Limited Partnership’s holdings in Louisiana-Pacific were worth $2,434,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. New England Research & Management Inc. lifted its holdings in Louisiana-Pacific by 3.2% in the fourth quarter. New England Research & Management Inc. now owns 16,016 shares of the construction company’s stock worth $356,000 after acquiring an additional 500 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Louisiana-Pacific by 28.5% in the fourth quarter. Toronto Dominion Bank now owns 2,570 shares of the construction company’s stock worth $57,000 after acquiring an additional 570 shares during the last quarter. Comerica Bank lifted its holdings in Louisiana-Pacific by 0.8% in the fourth quarter. Comerica Bank now owns 91,608 shares of the construction company’s stock worth $2,206,000 after acquiring an additional 770 shares during the last quarter. Strs Ohio lifted its holdings in Louisiana-Pacific by 2.0% in the fourth quarter. Strs Ohio now owns 62,200 shares of the construction company’s stock worth $1,382,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Lavaca Capital LLC bought a new stake in shares of Louisiana-Pacific during the fourth quarter valued at approximately $29,000. 91.47% of the stock is currently owned by hedge funds and other institutional investors.
LPX has been the topic of a number of recent analyst reports. Bank of America cut Louisiana-Pacific from a “buy” rating to a “neutral” rating and cut their price target for the company from $29.00 to $24.00 in a report on Wednesday, January 2nd. TD Securities lifted their price target on Louisiana-Pacific from $25.00 to $29.00 and gave the company a “hold” rating in a report on Thursday, February 14th. Finally, Zacks Investment Research cut Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a report on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Louisiana-Pacific has a consensus rating of “Hold” and a consensus price target of $29.67.
Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Wednesday, February 13th. The construction company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.07). The business had revenue of $589.00 million for the quarter, compared to the consensus estimate of $606.88 million. Louisiana-Pacific had a net margin of 13.95% and a return on equity of 22.87%. The business’s quarterly revenue was down 17.1% on a year-over-year basis. During the same period last year, the firm posted $0.73 EPS. As a group, analysts forecast that Louisiana-Pacific Co. will post 1.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Tuesday, February 26th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Monday, February 25th. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.13. Louisiana-Pacific’s payout ratio is 19.71%.
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Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structures, as well as light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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