Verition Fund Management LLC Lowers Position in Louisiana-Pacific Co. (NYSE:LPX)

Verition Fund Management LLC trimmed its position in Louisiana-Pacific Co. (NYSE:LPX) by 40.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,064 shares of the building manufacturing company’s stock after selling 4,099 shares during the period. Verition Fund Management LLC’s holdings in Louisiana-Pacific were worth $652,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LPX. Captrust Financial Advisors grew its position in shares of Louisiana-Pacific by 6.5% in the 3rd quarter. Captrust Financial Advisors now owns 7,613 shares of the building manufacturing company’s stock worth $818,000 after buying an additional 462 shares during the period. Hyperion Capital Advisors LP bought a new stake in Louisiana-Pacific during the third quarter worth about $277,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Louisiana-Pacific by 1.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 197,860 shares of the building manufacturing company’s stock worth $21,262,000 after purchasing an additional 3,599 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Louisiana-Pacific by 6.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,936 shares of the building manufacturing company’s stock valued at $1,712,000 after purchasing an additional 909 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of 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 valued at $2,261,000 after purchasing an additional 5,645 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Insider Buying and Selling

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 business’s stock in a transaction 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 completion of the sale, the director now owns 21,005 shares in the company, valued at approximately $2,064,791.50. The trade was a 10.64 % decrease in their position. The disclosure for this sale can be found here. 1.53% of the stock is currently owned by insiders.

Louisiana-Pacific Trading Down 1.6 %

Shares of NYSE:LPX opened at $116.65 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. Louisiana-Pacific Co. has a 12-month low of $61.25 and a 12-month high of $122.87. The company has a market cap of $8.19 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.90 and a beta of 1.91. The stock has a 50 day moving average of $109.27 and a 200 day moving average of $98.69.

Louisiana-Pacific Dividend Announcement

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

Analysts Set New Price Targets

Several research firms recently weighed in on LPX. DA Davidson upped their price target on Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. StockNews.com cut Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. Royal Bank of Canada lifted their price objective on Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. 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 report on Wednesday, November 6th. Finally, Bank of America upped their price target on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.