Point72 Asset Management L.P. Acquires Shares of 70,879 Louisiana-Pacific Co. (NYSE:LPX)

Point72 Asset Management L.P. acquired a new stake in Louisiana-Pacific Co. (NYSE:LPX) during the third quarter, HoldingsChannel reports. The fund acquired 70,879 shares of the building manufacturing company’s stock, valued at approximately $7,617,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in 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 buying an additional 97 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in Louisiana-Pacific by 4.0% in the 3rd 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% in the 3rd 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 in the last quarter. Covestor Ltd grew its holdings in Louisiana-Pacific by 61.0% in the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock valued at $46,000 after buying an additional 163 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Louisiana-Pacific by 1.1% during 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 acquiring an additional 167 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LPX has been the subject of a number of recent analyst reports. StockNews.com downgraded Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. Bank of America upped their target price on Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. The Goldman Sachs Group upped their target price on Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a research report on Wednesday, November 6th. Truist Financial upped their target price on Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada upped their target price on Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $102.22.

Louisiana-Pacific Price Performance

Shares of LPX stock opened at $120.27 on Friday. Louisiana-Pacific Co. has a twelve month low of $61.25 and a twelve month high of $122.87. The business has a fifty day simple moving average of $108.88 and a 200 day simple moving average of $98.22. The company has a quick ratio of 1.69, a current ratio of 2.92 and a debt-to-equity ratio of 0.21. The company has a market cap of $8.45 billion, a P/E ratio of 20.74, a P/E/G ratio of 2.84 and a beta of 1.91.

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th were issued a $0.26 dividend. 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 0.86%. Louisiana-Pacific’s payout ratio is presently 17.93%.

Insiders Place Their Bets

In other news, Director Ozey K. Horton, Jr. sold 300 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $113.41, for a total value of $34,023.00. Following the completion of the sale, the director now owns 28,638 shares of the company’s stock, valued at approximately $3,247,835.58. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $98.30, for a total value of $245,750.00. Following the completion of the sale, the director now directly 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 position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Louisiana-Pacific 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.