Miracle Mile Advisors LLC Boosts Stock Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Miracle Mile Advisors LLC increased its stake in Louisiana-Pacific Co. (NYSE:LPX) by 269.7% during the 4th quarter, Holdings Channel reports. The fund owned 41,698 shares of the building manufacturing company’s stock after purchasing an additional 30,418 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Louisiana-Pacific were worth $4,318,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LPX. Private Advisor Group LLC raised its stake in shares of Louisiana-Pacific by 32.0% in the second quarter. Private Advisor Group LLC now owns 10,350 shares of the building manufacturing company’s stock valued at $852,000 after acquiring an additional 2,511 shares in the last quarter. Choreo LLC raised its stake in shares of Louisiana-Pacific by 15.1% in the second quarter. Choreo LLC now owns 4,030 shares of the building manufacturing company’s stock valued at $332,000 after acquiring an additional 530 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Louisiana-Pacific in the second quarter valued at $66,000. Headlands Technologies LLC acquired a new stake in shares of Louisiana-Pacific in the second quarter valued at $81,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in shares of Louisiana-Pacific in the second quarter valued at $230,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Louisiana-Pacific

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $113.50, for a total transaction of $283,750.00. Following the completion of the sale, the director now directly owns 18,513 shares of the company’s stock, valued at approximately $2,101,225.50. This trade represents a 11.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ozey K. Horton, Jr. sold 300 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $113.41, for a total value of $34,023.00. Following the sale, the director now directly owns 28,638 shares of the company’s stock, valued at $3,247,835.58. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Louisiana-Pacific Stock Up 0.6 %

Shares of NYSE LPX opened at $105.72 on Tuesday. The stock has a market cap of $7.43 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.72 and a beta of 1.94. 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 Co. has a 52-week low of $63.76 and a 52-week high of $122.87. The business has a 50-day moving average price of $110.98 and a 200 day moving average price of $101.52.

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.98%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 17.93%.

Analysts Set New Price Targets

A number of research firms have weighed in on LPX. TD Securities raised their price target on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Truist Financial increased their price objective on Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a report on Monday, January 6th. StockNews.com downgraded Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Sunday, November 10th. Finally, BMO Capital Markets increased their price objective on Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $108.38.

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.