Merewether Investment Management LP Boosts Stake in Louisiana-Pacific Co. (NYSE:LPX)

Merewether Investment Management LP increased its stake in Louisiana-Pacific Co. (NYSE:LPX) by 10.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,780 shares of the building manufacturing company’s stock after acquiring an additional 12,600 shares during the period. Merewether Investment Management LP owned approximately 0.19% of Louisiana-Pacific worth $14,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Louisiana-Pacific in the third quarter valued at about $38,000. GAMMA Investing LLC grew its position in shares of Louisiana-Pacific by 57.3% in the second 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 during the period. V Square Quantitative Management LLC acquired a new position in Louisiana-Pacific in the 3rd quarter valued at $43,000. Covestor Ltd boosted its position in 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 acquiring an additional 163 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Louisiana-Pacific by 77.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company’s stock worth $50,000 after acquiring an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insider Activity

In other news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the sale, the director now directly owns 21,005 shares in the company, valued at $2,064,791.50. The trade was a 10.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ozey K. Horton, Jr. sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $113.41, for a total value of $34,023.00. Following the completion of the transaction, the director now owns 28,638 shares in the company, valued at approximately $3,247,835.58. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. 1.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on LPX. TD Securities raised their target price on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. BMO Capital Markets increased their price target on Louisiana-Pacific from $99.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Truist Financial boosted their target price on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. StockNews.com downgraded Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. Finally, 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 note on Thursday, September 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 currently has a consensus rating of “Hold” and an average target price of $102.22.

Louisiana-Pacific Stock Down 0.1 %

Shares of LPX stock opened at $117.23 on Wednesday. The firm’s 50-day moving average is $108.11 and its 200-day moving average is $97.69. Louisiana-Pacific Co. has a 52-week low of $61.25 and a 52-week high of $122.87. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.83 and a beta of 1.91. 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.89%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 17.93%.

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.