Bamco Inc. NY Raises Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Bamco Inc. NY raised its stake in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 65.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 516,472 shares of the building manufacturing company's stock after acquiring an additional 204,828 shares during the period. Bamco Inc. NY owned approximately 0.74% of Louisiana-Pacific worth $55,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LPX. 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 stake in shares of Louisiana-Pacific during the third quarter valued at $43,000. Covestor Ltd increased its holdings in 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 in the last quarter. First Horizon Advisors Inc. raised its position in Louisiana-Pacific by 77.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company's stock worth $50,000 after buying an additional 201 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Louisiana-Pacific by 57.3% during the 2nd quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company's stock valued at $40,000 after acquiring an additional 177 shares during the period. 94.73% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.30, for a total transaction of $245,750.00. Following the completion of the transaction, the director now directly owns 21,005 shares of the company's stock, valued at $2,064,791.50. The trade was a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ozey K. Horton, Jr. sold 300 shares of the stock in a transaction 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 in the company, valued at approximately $3,247,835.58. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.53% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LPX. TD Securities boosted their price objective on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the company a "hold" rating in a report on Wednesday, November 6th. Truist Financial raised their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. 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 report on Tuesday, November 12th. DA Davidson increased their target price on Louisiana-Pacific from $110.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their price target on Louisiana-Pacific from $119.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $102.22.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock traded down $0.10 during mid-day trading on Tuesday, hitting $117.23. The stock had a trading volume of 397,462 shares, compared to its average volume of 826,218. 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 one year low of $61.25 and a one year high of $122.87. The firm's 50 day moving average is $108.11 and its 200 day moving average is $97.69. The firm has a market capitalization of $8.23 billion, a P/E ratio of 20.21, a P/E/G ratio of 2.83 and a beta of 1.91.

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.04 annualized dividend and a dividend yield of 0.89%. Louisiana-Pacific's dividend payout ratio (DPR) is 17.93%.

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.