D.A. Davidson & CO. Sells 3,622 Shares of Louisiana-Pacific Co. (NYSE:LPX)

D.A. Davidson & CO. trimmed its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 38,508 shares of the building manufacturing company’s stock after selling 3,622 shares during the quarter. D.A. Davidson & CO.’s holdings in Louisiana-Pacific were worth $4,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in shares of Louisiana-Pacific during the 3rd quarter valued at $38,000. GAMMA Investing LLC lifted 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 buying an additional 177 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Louisiana-Pacific during the 3rd quarter valued at $43,000. Covestor Ltd lifted its holdings in shares of Louisiana-Pacific by 61.0% during the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock valued at $46,000 after buying an additional 163 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in Louisiana-Pacific by 77.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company’s stock worth $50,000 after purchasing an additional 201 shares during the period. 94.73% of the stock is owned by institutional investors.

Insider Activity at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 300 shares of the firm’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 of the company’s stock, valued at approximately $3,247,835.58. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 $2,064,791.50. The trade was a 10.64 % 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 corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on LPX shares. TD Securities boosted their price target on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. The Goldman Sachs Group boosted their price objective on Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Bank of America raised their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Royal Bank of Canada increased their price objective on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Truist Financial increased their price objective 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 research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Louisiana-Pacific presently has a consensus rating of “Hold” and a consensus target price of $102.22.

Louisiana-Pacific Stock Performance

LPX opened at $116.64 on Friday. The stock has a market capitalization of $8.19 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.90 and a beta of 1.88. The company has a fifty day moving average of $107.18 and a 200 day moving average of $96.87. Louisiana-Pacific Co. has a fifty-two week low of $60.27 and a fifty-two week high of $122.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.92.

Louisiana-Pacific Announces Dividend

The business also recently announced 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 0.89%. Louisiana-Pacific’s payout ratio 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.