Thrivent Financial for Lutherans Decreases Stake in Louisiana-Pacific Co. (NYSE:LPX)

Thrivent Financial for Lutherans cut its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 87.1% in the 3rd quarter, Holdings Channel reports. The fund owned 14,694 shares of the building manufacturing company’s stock after selling 99,153 shares during the period. Thrivent Financial for Lutherans’ holdings in Louisiana-Pacific were worth $1,579,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LPX. Harbor Capital Advisors Inc. purchased a new position in Louisiana-Pacific in the third quarter valued at about $38,000. GAMMA Investing LLC raised its position in shares of Louisiana-Pacific by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Louisiana-Pacific during the 3rd quarter valued at approximately $43,000. Covestor Ltd grew its position 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 buying an additional 163 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Louisiana-Pacific in the second quarter worth $53,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Performance

Shares of NYSE LPX opened at $118.36 on Friday. The stock has a market capitalization of $8.31 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.81 and a beta of 1.88. The firm’s 50-day moving average price is $107.68 and its two-hundred day moving average price is $97.22. Louisiana-Pacific Co. has a 52-week low of $60.37 and a 52-week high of $122.87. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a yield of 0.88%. Louisiana-Pacific’s dividend payout ratio is currently 17.93%.

Analyst Ratings Changes

A number of research firms have commented on LPX. The Goldman Sachs Group increased their price objective on shares of Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Royal Bank of Canada upped their target price on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. DA Davidson lifted 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. TD Securities upped their price objective on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. Two research 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $102.22.

Insider Buying and Selling

In related news, Director Ozey K. Horton, Jr. sold 300 shares of Louisiana-Pacific 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Lizanne C. Gottung sold 2,500 shares of the company’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 completion of the transaction, the director now 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 position. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

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.