Quest Partners LLC Boosts Stock Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Quest Partners LLC grew its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 58.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,530 shares of the building manufacturing company’s stock after buying an additional 3,533 shares during the period. Quest Partners LLC’s holdings in Louisiana-Pacific were worth $1,024,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Chesapeake Capital Corp IL lifted its position in shares of Louisiana-Pacific by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 7,622 shares of the building manufacturing company’s stock worth $817,000 after acquiring an additional 1,663 shares in the last quarter. Empowered Funds LLC lifted its position in shares of 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 acquiring an additional 14,001 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Louisiana-Pacific during the third quarter worth $224,000. Metis Global Partners LLC lifted its position in shares of Louisiana-Pacific by 114.7% during the third quarter. Metis Global Partners LLC now owns 6,510 shares of the building manufacturing company’s stock worth $700,000 after acquiring an additional 3,478 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Louisiana-Pacific by 4.2% during the third quarter. KBC Group NV now owns 7,758 shares of the building manufacturing company’s stock worth $834,000 after acquiring an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Activity at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction dated 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 trade represents a 10.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ozey K. Horton, Jr. sold 300 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $113.41, for a total value of $34,023.00. Following the transaction, the director now directly owns 28,638 shares in the company, valued at $3,247,835.58. This trade 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 owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. StockNews.com downgraded Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. Truist Financial increased their price objective on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Bank of America increased their price objective on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research report on Thursday, September 12th. TD Securities increased their price objective on Louisiana-Pacific from $115.00 to $123.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada increased their price objective on Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Louisiana-Pacific has a consensus rating of “Hold” and an average target price of $102.22.

Louisiana-Pacific Stock Down 0.0 %

LPX opened at $111.39 on Thursday. The stock has a market cap of $7.82 billion, a PE ratio of 19.21, a P/E/G ratio of 2.70 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 Co. has a 52 week low of $60.00 and a 52 week high of $117.59. The business’s fifty day simple moving average is $105.33 and its 200 day simple moving average is $95.63.

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a yield of 0.93%. Louisiana-Pacific’s dividend payout ratio is presently 17.93%.

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.