Pacer Advisors Inc. Acquires 1,096,804 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Pacer Advisors Inc. lifted its stake in Louisiana-Pacific Co. (NYSE:LPX) by 11,417.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,106,410 shares of the building manufacturing company’s stock after buying an additional 1,096,804 shares during the period. Pacer Advisors Inc. owned approximately 1.58% of Louisiana-Pacific worth $118,895,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in Louisiana-Pacific by 258.5% in the 1st quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock valued at $37,000 after purchasing an additional 318 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Louisiana-Pacific in the 3rd quarter valued at $38,000. GAMMA Investing LLC boosted its holdings in shares of Louisiana-Pacific by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock valued at $40,000 after acquiring an additional 177 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Louisiana-Pacific during the 3rd quarter worth $43,000. Finally, Covestor Ltd grew its position in Louisiana-Pacific by 61.0% during the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock worth $46,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Activity

In related news, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,064,791.50. This represents a 10.64 % decrease in their position. The transaction was disclosed in a 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 completion of the transaction, the director now owns 28,638 shares in the company, valued at approximately $3,247,835.58. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LPX has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Royal Bank of Canada lifted their target price on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group boosted their target price on shares of Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. Truist Financial raised their price target on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, TD Securities boosted their price objective on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $102.22.

Louisiana-Pacific Stock Up 2.7 %

Shares of Louisiana-Pacific stock opened at $114.40 on Friday. The firm has a market cap of $8.04 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.69 and a beta of 1.88. The stock’s 50-day moving average is $105.33 and its 200 day moving average is $95.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.92 and a quick ratio of 1.69. Louisiana-Pacific Co. has a one year low of $60.27 and a one year high of $117.59.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, November 20th. Louisiana-Pacific’s dividend payout ratio (DPR) is 17.93%.

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.