Oppenheimer Asset Management Inc. Lowers Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Oppenheimer Asset Management Inc. lowered its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,012 shares of the building manufacturing company’s stock after selling 1,833 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Louisiana-Pacific were worth $1,936,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on LPX. DA Davidson upped their price target on shares of Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Truist Financial increased their target price on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. StockNews.com lowered Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Sunday, November 10th. Royal Bank of Canada raised their price objective on Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets upped their target price on Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $102.22.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock opened at $111.97 on Friday. The firm’s 50-day moving average is $104.20 and its two-hundred day moving average is $94.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.92 and a quick ratio of 1.69. The stock has a market capitalization of $7.86 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.68 and a beta of 1.88. Louisiana-Pacific Co. has a 12-month low of $60.00 and a 12-month high of $114.33.

Louisiana-Pacific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.04 annualized dividend and a yield of 0.93%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 17.93%.

Insiders Place Their Bets

In other news, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the transaction, the chief executive officer now directly owns 596,886 shares in the company, valued at $55,773,027.84. This represents a 5.18 % decrease in their position. 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 business’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 of the company’s stock, valued at approximately $2,064,791.50. The trade was a 10.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,400 shares of company stock valued at $3,325,917 in the last quarter. 1.26% of the stock is currently owned by company insiders.

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.