Pacer Advisors Inc. Raises Position in Louisiana-Pacific Co. (NYSE:LPX)

Pacer Advisors Inc. lifted its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 11,417.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,106,410 shares of the building manufacturing company’s stock after buying an additional 1,096,804 shares during the period. Pacer Advisors Inc.’s holdings in Louisiana-Pacific were worth $118,895,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. William Blair Investment Management LLC bought a new stake in shares of Louisiana-Pacific in the 2nd quarter worth $91,053,000. Marshall Wace LLP lifted its position in shares of Louisiana-Pacific by 92.4% during the 2nd quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock worth $103,363,000 after buying an additional 602,803 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Louisiana-Pacific by 188.3% in the 2nd quarter. Renaissance Technologies LLC now owns 447,400 shares of the building manufacturing company’s stock worth $36,834,000 after buying an additional 292,200 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Louisiana-Pacific by 768.5% in the second quarter. Assenagon Asset Management S.A. now owns 270,341 shares of the building manufacturing company’s stock valued at $22,257,000 after acquiring an additional 239,212 shares in the last quarter. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Louisiana-Pacific during the first quarter valued at approximately $15,649,000. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $114.40 on Friday. The company’s 50 day simple moving average is $105.33 and its two-hundred day simple moving average is $95.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.92 and a quick ratio of 1.69. Louisiana-Pacific Co. has a 1 year low of $60.27 and a 1 year high of $117.59. The stock has a market capitalization of $8.04 billion, a PE ratio of 19.72, a P/E/G ratio of 2.69 and a beta of 1.88.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, November 20th. Louisiana-Pacific’s payout ratio is 17.93%.

Insiders Place Their Bets

In related news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was 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 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 filing with the SEC, which is available through the SEC website. Also, Director Ozey K. Horton, Jr. sold 300 shares of Louisiana-Pacific stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

LPX has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price objective on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. TD Securities raised their price target on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Truist Financial upped their price objective on Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, DA Davidson boosted their target price on Louisiana-Pacific from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.22.

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.