1858 Wealth Management LLC Takes $692,000 Position in Louisiana-Pacific Co. (NYSE:LPX)

1858 Wealth Management LLC acquired a new position in Louisiana-Pacific Co. (NYSE:LPX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,686 shares of the building manufacturing company’s stock, valued at approximately $692,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LPX. UMB Bank n.a. grew its stake in shares of Louisiana-Pacific by 98.8% in the fourth quarter. UMB Bank n.a. now owns 318 shares of the building manufacturing company’s stock worth $33,000 after acquiring an additional 158 shares during the period. Versant Capital Management Inc raised its stake in Louisiana-Pacific by 158.5% during the 4th quarter. Versant Capital Management Inc now owns 349 shares of the building manufacturing company’s stock valued at $36,000 after buying an additional 214 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Louisiana-Pacific during the 3rd quarter valued at $38,000. V Square Quantitative Management LLC purchased a new position in shares of Louisiana-Pacific in the 3rd quarter worth $43,000. Finally, Covestor Ltd boosted its stake in shares of Louisiana-Pacific by 61.0% in the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock worth $46,000 after buying an additional 163 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada increased their target price on Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. BMO Capital Markets increased 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 note on Tuesday, November 12th. Truist Financial boosted their target price on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, January 6th. DA Davidson lifted 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. Finally, 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 research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $108.38.

Insider Activity

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 300 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $113.41, for a total transaction of $34,023.00. Following the completion of the sale, the director now directly owns 28,638 shares of the company’s stock, valued at $3,247,835.58. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $113.50, for a total transaction of $283,750.00. Following the completion of the transaction, the director now directly owns 18,513 shares in the company, valued at $2,101,225.50. This trade represents a 11.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.53% of the company’s stock.

Louisiana-Pacific Stock Down 0.9 %

LPX opened at $116.70 on Wednesday. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.41 and a beta of 1.95. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.92. The firm’s fifty day moving average is $111.91 and its 200 day moving average is $105.20. Louisiana-Pacific Co. has a fifty-two week low of $63.76 and a fifty-two week high of $122.87.

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.