2,088 Shares in Louisiana-Pacific Co. (NYSE:LPX) Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc acquired a new stake in Louisiana-Pacific Co. (NYSE:LPX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,088 shares of the building manufacturing company’s stock, valued at approximately $224,000.

Several other hedge funds have also made changes to their positions in the company. CWM LLC increased its holdings in shares of Louisiana-Pacific by 4.3% in the 3rd quarter. CWM LLC now owns 2,376 shares of the building manufacturing company’s stock valued at $255,000 after acquiring an additional 97 shares during the period. Gateway Investment Advisers LLC grew its holdings in shares of Louisiana-Pacific by 4.0% during the third quarter. Gateway Investment Advisers LLC now owns 2,603 shares of the building manufacturing company’s stock valued at $280,000 after buying an additional 99 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in Louisiana-Pacific by 23.3% in the third quarter. Hanseatic Management Services Inc. now owns 835 shares of the building manufacturing company’s stock valued at $90,000 after buying an additional 158 shares during the last quarter. Covestor Ltd raised its holdings in shares of Louisiana-Pacific by 61.0% during the third quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock worth $46,000 after purchasing an additional 163 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Louisiana-Pacific by 1.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,027 shares of the building manufacturing company’s stock valued at $1,237,000 after buying an additional 167 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Performance

Shares of LPX stock opened at $115.92 on Friday. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.69 and a beta of 1.88. Louisiana-Pacific Co. has a 1 year low of $60.27 and a 1 year high of $117.59. The stock’s 50-day moving average is $105.73 and its two-hundred day moving average is $95.76. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders 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 0.90%. Louisiana-Pacific’s dividend payout ratio is presently 17.93%.

Insider Activity

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 300 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $113.41, for a total transaction of $34,023.00. Following the sale, the director now directly owns 28,638 shares in the company, valued at approximately $3,247,835.58. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the firm’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 trade represents a 10.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LPX. Royal Bank of Canada lifted their price objective on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Truist Financial lifted 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. TD Securities raised their target price on Louisiana-Pacific from $115.00 to $123.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. StockNews.com lowered Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. Finally, Bank of America upped 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $102.22.

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.