1858 Wealth Management LLC Purchases New Position in Louisiana-Pacific Co. (NYSE:LPX)

1858 Wealth Management LLC bought a new position in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,686 shares of the building manufacturing company's stock, valued at approximately $692,000.

Several other institutional investors have also recently added to or reduced their stakes in LPX. FMR LLC grew its position in Louisiana-Pacific by 25.2% during the 3rd quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company's stock worth $340,427,000 after purchasing an additional 638,058 shares during the last quarter. State Street Corp lifted its holdings in shares of Louisiana-Pacific by 10.8% during the third quarter. State Street Corp now owns 2,154,561 shares of the building manufacturing company's stock worth $231,529,000 after purchasing an additional 210,113 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Louisiana-Pacific by 11,417.9% during the third quarter. Pacer Advisors Inc. now owns 1,106,410 shares of the building manufacturing company's stock worth $118,895,000 after purchasing an additional 1,096,804 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Louisiana-Pacific by 32.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 662,496 shares of the building manufacturing company's stock worth $71,192,000 after purchasing an additional 162,976 shares during the period. Finally, Bamco Inc. NY boosted its stake in shares of Louisiana-Pacific by 65.7% in the third quarter. Bamco Inc. NY now owns 516,472 shares of the building manufacturing company's stock valued at $55,500,000 after buying an additional 204,828 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the company a "market perform" rating in a report on Tuesday, November 12th. Truist Financial raised their target price on shares of Louisiana-Pacific from $117.00 to $135.00 and gave the company a "buy" rating in a report on Monday, January 6th. Royal Bank of Canada raised their target price on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, November 6th. The Goldman Sachs Group raised their target price on shares of Louisiana-Pacific from $90.00 to $99.00 and gave the company a "sell" rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered Louisiana-Pacific from a "buy" rating to a "hold" rating in a research note on Sunday, November 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $108.38.

Louisiana-Pacific Stock Performance

LPX traded down $2.52 on Friday, hitting $115.20. 388,888 shares of the company's stock were exchanged, compared to its average volume of 543,856. The stock has a fifty day moving average of $111.89 and a two-hundred day moving average of $105.54. The firm has a market cap of $8.09 billion, a PE ratio of 19.86, a P/E/G ratio of 1.42 and a beta of 1.95. The company has a current ratio of 2.92, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. Louisiana-Pacific Co. has a twelve month low of $66.54 and a twelve month high of $122.87.

Insider Buying and Selling

In other news, Director Ozey K. Horton, Jr. sold 300 shares of the stock in a transaction on Tuesday, November 12th. The stock was 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 $3,247,835.58. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the company'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 ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by corporate insiders.

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.