Louisiana-Pacific (NYSE:LPX) Sets New 12-Month High – Here’s What Happened

Louisiana-Pacific Co. (NYSE:LPX)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $114.33 and last traded at $114.03, with a volume of 46374 shares. The stock had previously closed at $112.44.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LPX shares. DA Davidson raised their price objective on shares of Louisiana-Pacific from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada increased their price objective on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Bank of America increased their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a research note on Thursday, September 12th. BMO Capital Markets lifted their target price on Louisiana-Pacific from $99.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, StockNews.com lowered Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Sunday, November 10th. Two investment 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.22.

Louisiana-Pacific Price Performance

The stock has a market cap of $8.01 billion, a PE ratio of 19.39, a PEG ratio of 2.68 and a beta of 1.88. The company has a 50-day simple moving average of $103.42 and a 200-day simple moving average of $94.27. 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 Dividend Announcement

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

Insider Activity

In related news, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 21,005 shares of the company’s stock, valued at approximately $2,064,791.50. This trade represents a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the sale, the chief executive officer now owns 596,886 shares of the company’s stock, valued at approximately $55,773,027.84. The trade was a 5.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,400 shares of company stock worth $3,325,917 over the last ninety days. 1.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Louisiana-Pacific

Several hedge funds and other institutional investors have recently modified their holdings of LPX. Bessemer Group Inc. lifted its holdings in Louisiana-Pacific by 258.5% in the first quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock worth $37,000 after acquiring an additional 318 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Louisiana-Pacific during the third quarter valued at approximately $38,000. GAMMA Investing LLC raised its stake in shares of Louisiana-Pacific by 57.3% during 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 in the last quarter. V Square Quantitative Management LLC bought a new position in Louisiana-Pacific during the 3rd quarter valued at $43,000. Finally, Covestor Ltd raised its holdings 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 purchasing an additional 163 shares in the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

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.