Louisiana-Pacific Co. (NYSE:LPX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Louisiana-Pacific Co. (NYSE:LPX) by 29.9% in the third quarter, HoldingsChannel reports. The fund owned 149,255 shares of the building manufacturing company’s stock after selling 63,782 shares during the quarter. Principal Financial Group Inc.’s holdings in Louisiana-Pacific were worth $16,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. William Blair Investment Management LLC bought a new position in Louisiana-Pacific during the 2nd quarter valued at $91,053,000. Pacer Advisors Inc. boosted its position in shares of Louisiana-Pacific by 11,417.9% during the 3rd quarter. Pacer Advisors Inc. now owns 1,106,410 shares of the building manufacturing company’s stock valued at $118,895,000 after purchasing an additional 1,096,804 shares in the last quarter. FMR LLC lifted its stake in Louisiana-Pacific by 25.2% during the third quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company’s stock valued at $340,427,000 after purchasing an additional 638,058 shares during the last quarter. Marshall Wace LLP boosted its holdings in Louisiana-Pacific by 92.4% during the second quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock worth $103,363,000 after buying an additional 602,803 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Louisiana-Pacific by 188.3% in the second quarter. Renaissance Technologies LLC now owns 447,400 shares of the building manufacturing company’s stock worth $36,834,000 after buying an additional 292,200 shares during the last quarter. Institutional investors and hedge funds 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 business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $113.41, for a total transaction of $34,023.00. Following the transaction, the director now directly owns 28,638 shares in the company, valued at $3,247,835.58. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $113.50, for a total value of $283,750.00. Following the completion of the sale, the director now owns 18,513 shares of the company’s stock, valued at $2,101,225.50. This represents a 11.90 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Louisiana-Pacific Price Performance

Shares of LPX opened at $103.39 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.92. The firm has a market cap of $7.26 billion, a PE ratio of 17.83, a PEG ratio of 2.72 and a beta of 1.91. Louisiana-Pacific Co. has a twelve month low of $63.76 and a twelve month high of $122.87. The firm’s 50 day moving average price is $109.95 and its 200 day moving average price is $100.04.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.04 annualized dividend and a yield of 1.01%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 17.93%.

Analysts Set New Price Targets

A number of brokerages have recently commented on LPX. TD Securities increased their price objective on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Truist Financial lifted their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada raised their target price on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets boosted their target price on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Finally, Bank of America raised their target price on Louisiana-Pacific from $73.00 to $75.00 and gave the stock 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 issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.