Fmr LLC Acquires 638,058 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Fmr LLC lifted its stake in Louisiana-Pacific Co. (NYSE:LPX) by 25.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,167,946 shares of the building manufacturing company’s stock after purchasing an additional 638,058 shares during the quarter. Fmr LLC’s holdings in Louisiana-Pacific were worth $340,427,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Tidal Investments LLC bought a new position in shares of Louisiana-Pacific in the 1st quarter valued at $413,000. Swedbank AB acquired a new position in shares of Louisiana-Pacific during the first quarter worth $777,000. Burney Co. bought a new stake in shares of Louisiana-Pacific in the 1st quarter valued at about $229,000. Cetera Advisors LLC bought a new stake in Louisiana-Pacific in the first quarter valued at approximately $400,000. Finally, GAMMA Investing LLC boosted its stake in shares of Louisiana-Pacific by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock valued at $40,000 after purchasing an additional 177 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on LPX. DA Davidson raised their target price on Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Truist Financial lifted their price objective on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Bank of America upped their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. StockNews.com downgraded Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Sunday, November 10th. Finally, The Goldman Sachs Group increased their price objective on Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Louisiana-Pacific presently has an average rating of “Hold” and a consensus price target of $102.22.

Louisiana-Pacific Stock Performance

Shares of LPX opened at $118.20 on Friday. The stock has a 50 day moving average of $107.68 and a 200 day moving average of $97.27. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.81 and a beta of 1.88. Louisiana-Pacific Co. has a 12 month low of $60.37 and a 12 month high of $122.87. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Wednesday, November 20th. Louisiana-Pacific’s dividend payout ratio is presently 17.93%.

Insider Transactions at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 2,500 shares of the company’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 owns 21,005 shares of the company’s stock, valued at $2,064,791.50. This represents a 10.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ozey K. Horton, Jr. sold 300 shares of Louisiana-Pacific 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 trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

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.