HighTower Advisors LLC Purchases 26,644 Shares of Louisiana-Pacific Co. (NYSE:LPX)

HighTower Advisors LLC boosted its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 303.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,430 shares of the building manufacturing company’s stock after purchasing an additional 26,644 shares during the period. HighTower Advisors LLC’s holdings in Louisiana-Pacific were worth $3,812,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Diversified Trust Co acquired a new stake in Louisiana-Pacific during the second quarter valued at $590,000. Ensign Peak Advisors Inc lifted its stake in shares of Louisiana-Pacific by 57.6% in the second quarter. Ensign Peak Advisors Inc now owns 35,427 shares of the building manufacturing company’s stock worth $2,917,000 after buying an additional 12,950 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Louisiana-Pacific by 36.7% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 21,045 shares of the building manufacturing company’s stock worth $2,261,000 after purchasing an additional 5,645 shares during the period. Hsbc Holdings PLC raised its stake in Louisiana-Pacific by 168.4% during the second quarter. Hsbc Holdings PLC now owns 79,185 shares of the building manufacturing company’s stock worth $6,546,000 after purchasing an additional 49,682 shares during the period. Finally, Empowered Funds LLC raised its stake in Louisiana-Pacific by 238.1% during the third 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. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the firm’s 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 sale, the director now directly owns 21,005 shares in the company, valued at approximately $2,064,791.50. This trade represents a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ozey K. Horton, Jr. sold 300 shares of Louisiana-Pacific stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $113.41, for a total transaction of $34,023.00. Following the sale, the director now owns 28,638 shares in the company, valued at approximately $3,247,835.58. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.53% of the stock is currently owned by company insiders.

Louisiana-Pacific Stock Up 0.5 %

LPX stock opened at $117.19 on Thursday. Louisiana-Pacific Co. has a twelve month low of $61.25 and a twelve 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. The company has a market capitalization of $8.23 billion, a P/E ratio of 20.21, a PEG ratio of 2.90 and a beta of 1.91. The firm has a 50 day simple moving average of $109.46 and a 200-day simple moving average of $98.82.

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. This represents a $1.04 annualized dividend and a yield of 0.89%. The ex-dividend date was Wednesday, November 20th. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 17.93%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LPX. Bank of America lifted their price objective on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. BMO Capital Markets upped their price target on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. DA Davidson upped their price target on shares of Louisiana-Pacific from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Truist Financial upped their price target on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Two equities 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $102.22.

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.