D.A. Davidson & CO. Trims Holdings in Louisiana-Pacific Co. (NYSE:LPX)

D.A. Davidson & CO. trimmed its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,508 shares of the building manufacturing company’s stock after selling 3,622 shares during the quarter. D.A. Davidson & CO. owned about 0.05% of Louisiana-Pacific worth $4,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LPX. O Shaughnessy Asset Management LLC purchased a new position in Louisiana-Pacific during the first quarter worth about $216,000. Tidal Investments LLC purchased a new position in Louisiana-Pacific during the first quarter worth about $413,000. Virtu Financial LLC purchased a new position in Louisiana-Pacific during the first quarter worth about $827,000. Swedbank AB purchased a new position in Louisiana-Pacific during the first quarter worth about $777,000. Finally, Burney Co. purchased a new position in Louisiana-Pacific during the first quarter worth about $229,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Down 2.0 %

Shares of NYSE:LPX opened at $116.64 on Friday. Louisiana-Pacific Co. has a 52-week low of $60.27 and a 52-week high of $122.87. The firm has a market capitalization of $8.19 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.90 and a beta of 1.88. The stock has a 50 day moving average price of $107.18 and a 200-day moving average price of $96.87. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.92.

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Wednesday, November 20th. Louisiana-Pacific’s dividend payout ratio is currently 17.93%.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 300 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $113.41, for a total transaction of $34,023.00. Following the sale, the director now directly owns 28,638 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.30, for a total value of $245,750.00. Following the sale, the director now owns 21,005 shares in the company, valued at approximately $2,064,791.50. This represents a 10.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.53% of the company’s stock.

Analyst Upgrades and Downgrades

LPX has been the subject of several recent analyst reports. DA Davidson boosted their target price on Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a report on Wednesday, November 6th. TD Securities upped their price objective on Louisiana-Pacific from $115.00 to $123.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Royal Bank of Canada upped 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. Finally, Truist Financial upped their price objective on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $102.22.

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.