Advisors Asset Management Inc. Reduces Stake in Louisiana-Pacific Co. (NYSE:LPX)

Advisors Asset Management Inc. cut its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 19.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,124 shares of the building manufacturing company’s stock after selling 1,667 shares during the period. Advisors Asset Management Inc.’s holdings in Louisiana-Pacific were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. lifted its position in Louisiana-Pacific by 754.3% in the third quarter. Meeder Asset Management Inc. now owns 31,089 shares of the building manufacturing company’s stock worth $3,341,000 after buying an additional 27,450 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Louisiana-Pacific by 58.9% during the 3rd quarter. Quest Partners LLC now owns 9,530 shares of the building manufacturing company’s stock worth $1,024,000 after purchasing an additional 3,533 shares during the period. Chesapeake Capital Corp IL grew its holdings in Louisiana-Pacific by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 7,622 shares of the building manufacturing company’s stock valued at $817,000 after purchasing an additional 1,663 shares during the last quarter. Empowered Funds LLC raised its position in Louisiana-Pacific by 238.1% in the 3rd quarter. Empowered Funds LLC now owns 19,881 shares of the building manufacturing company’s stock worth $2,136,000 after purchasing an additional 14,001 shares during the period. Finally, CIBC Asset Management Inc bought a new stake in Louisiana-Pacific in the third quarter worth about $224,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LPX shares. Truist Financial increased their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. DA Davidson boosted their target price on shares of Louisiana-Pacific from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada lifted their price objective on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. The Goldman Sachs Group upped their target price on shares of Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Finally, Bank of America boosted their price target on Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Louisiana-Pacific has a consensus rating of “Hold” and an average price target of $102.22.

Insider Buying and Selling at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the transaction, the director now directly owns 21,005 shares in the company, valued at $2,064,791.50. The trade was a 10.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ozey K. Horton, Jr. sold 300 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $113.41, for a total value of $34,023.00. Following the completion of the sale, the director now directly owns 28,638 shares of the company’s stock, valued at approximately $3,247,835.58. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Louisiana-Pacific Stock Down 1.0 %

Shares of NYSE LPX opened at $118.96 on Wednesday. Louisiana-Pacific Co. has a 12-month low of $60.27 and a 12-month high of $122.87. The stock’s fifty day simple moving average is $106.51 and its two-hundred day simple moving average is $96.51. The stock has a market capitalization of $8.36 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 2.79 and a beta of 1.88. The company has a current ratio of 2.92, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Wednesday, November 20th. Louisiana-Pacific’s payout ratio is currently 17.93%.

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.