Intech Investment Management LLC Has $3.24 Million Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Intech Investment Management LLC decreased its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 33.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,138 shares of the building manufacturing company's stock after selling 14,858 shares during the period. Intech Investment Management LLC's holdings in Louisiana-Pacific were worth $3,239,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LPX. Harbor Capital Advisors Inc. acquired a new stake in Louisiana-Pacific in the third quarter valued at about $38,000. V Square Quantitative Management LLC acquired a new stake in Louisiana-Pacific in the third quarter valued at about $43,000. Covestor Ltd lifted its position in Louisiana-Pacific by 61.0% in the third quarter. Covestor Ltd now owns 430 shares of the building manufacturing company's stock valued at $46,000 after purchasing an additional 163 shares during the period. Bessemer Group Inc. lifted its position in Louisiana-Pacific by 258.5% in the first quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company's stock valued at $37,000 after purchasing an additional 318 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in Louisiana-Pacific by 77.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company's stock valued at $50,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Ratings Changes

LPX has been the subject of a number of research analyst reports. StockNews.com cut shares of Louisiana-Pacific from a "buy" rating to a "hold" rating in a report on Sunday, November 10th. 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 report on Thursday, September 12th. Royal Bank of Canada raised their price objective on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. Truist Financial raised their price objective on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Finally, DA Davidson lifted their target price 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $102.22.

Louisiana-Pacific Stock Up 1.3 %

Shares of LPX traded up $1.49 during midday trading on Friday, hitting $115.89. The company had a trading volume of 488,558 shares, compared to its average volume of 682,177. The company's 50 day moving average price is $106.09 and its 200 day moving average price is $96.27. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 2.76 and a beta of 1.88. Louisiana-Pacific Co. has a 52 week low of $60.27 and a 52 week high of $117.59. The company has a quick ratio of 1.69, a current ratio of 2.92 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific Dividend Announcement

The company 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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Wednesday, November 20th. Louisiana-Pacific's payout ratio is 17.93%.

Insider Buying and Selling at Louisiana-Pacific

In related news, Director Lizanne C. Gottung sold 2,500 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 21,005 shares of the company's stock, valued at $2,064,791.50. This represents a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ozey K. Horton, Jr. sold 300 shares of the business's 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 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 position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

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.