Chesapeake Capital Corp IL Acquires 1,663 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Chesapeake Capital Corp IL grew its position in Louisiana-Pacific Co. (NYSE:LPX) by 27.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,622 shares of the building manufacturing company’s stock after buying an additional 1,663 shares during the period. Chesapeake Capital Corp IL’s holdings in Louisiana-Pacific were worth $817,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of Louisiana-Pacific by 258.5% in the 1st quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock valued at $37,000 after buying an additional 318 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of Louisiana-Pacific in the 3rd quarter valued at $38,000. GAMMA Investing LLC increased its stake in shares of Louisiana-Pacific by 57.3% in the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock valued at $40,000 after buying an additional 177 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Louisiana-Pacific in the 3rd quarter valued at $43,000. Finally, Covestor Ltd increased 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 valued at $46,000 after buying an additional 163 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at $2,064,791.50. The trade was a 10.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ozey K. Horton, Jr. sold 300 shares of the business’s stock in a transaction dated 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 sale, the director now owns 28,638 shares in the company, valued at approximately $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. Insiders have sold a total of 35,400 shares of company stock worth $3,325,917 over the last three months. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on LPX. The Goldman Sachs Group lifted their target price 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 Louisiana-Pacific from $99.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Bank of America lifted their price objective on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Royal Bank of Canada lifted their price objective on Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, DA Davidson lifted their price objective on Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $102.22.

Louisiana-Pacific Stock Down 0.4 %

NYSE:LPX opened at $111.97 on Friday. Louisiana-Pacific Co. has a 1 year low of $60.00 and a 1 year high of $114.33. The company has a current ratio of 2.92, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.70 and a beta of 1.88. The stock has a 50-day moving average price of $104.20 and a two-hundred day moving average price of $94.81.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders 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 0.93%. Louisiana-Pacific’s payout ratio is 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.