Maverick Capital Ltd. Makes New Investment in Louisiana-Pacific Co. (NYSE:LPX)

Maverick Capital Ltd. bought a new stake in Louisiana-Pacific Co. (NYSE:LPX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,189 shares of the building manufacturing company’s stock, valued at approximately $1,310,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of Louisiana-Pacific by 4.3% in the third quarter. CWM LLC now owns 2,376 shares of the building manufacturing company’s stock valued at $255,000 after acquiring an additional 97 shares in the last quarter. Gateway Investment Advisers LLC increased its position in shares of Louisiana-Pacific by 4.0% during the 3rd quarter. Gateway Investment Advisers LLC now owns 2,603 shares of the building manufacturing company’s stock valued at $280,000 after purchasing an additional 99 shares during the last quarter. Hanseatic Management Services Inc. raised its stake in shares of Louisiana-Pacific by 23.3% during the 3rd quarter. Hanseatic Management Services Inc. now owns 835 shares of the building manufacturing company’s stock worth $90,000 after purchasing an additional 158 shares during the period. Covestor Ltd boosted its holdings in shares of Louisiana-Pacific by 61.0% in the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock worth $46,000 after buying an additional 163 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Louisiana-Pacific by 1.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,027 shares of the building manufacturing company’s stock valued at $1,237,000 after buying an additional 167 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Louisiana-Pacific Stock Up 1.3 %

LPX stock opened at $118.20 on Friday. The stock has a 50-day simple moving average of $107.68 and a two-hundred day simple moving average of $97.27. Louisiana-Pacific Co. has a twelve month low of $60.37 and a twelve month high of $122.87. The firm has a market capitalization of $8.30 billion, a PE ratio of 20.38, a PEG ratio of 2.85 and a beta of 1.88. The company has a quick ratio of 1.69, a current ratio of 2.92 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.04 annualized dividend and a yield of 0.88%. Louisiana-Pacific’s dividend payout ratio is currently 17.93%.

Analyst Ratings Changes

Several analysts have commented on LPX shares. BMO Capital Markets lifted their price objective on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Royal Bank of Canada lifted their price target on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. TD Securities increased their price objective on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Truist Financial boosted their target price on Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, StockNews.com downgraded Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Sunday, November 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.22.

Louisiana-Pacific Company 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.