Principal Financial Group Inc. Sells 63,782 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Principal Financial Group Inc. trimmed its stake in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 29.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 149,255 shares of the building manufacturing company's stock after selling 63,782 shares during the quarter. Principal Financial Group Inc. owned about 0.21% of Louisiana-Pacific worth $16,039,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. acquired a new stake in Louisiana-Pacific during the third quarter worth about $38,000. V Square Quantitative Management LLC acquired a new stake in shares of Louisiana-Pacific during the 3rd quarter worth approximately $43,000. Covestor Ltd boosted its position in shares of Louisiana-Pacific by 61.0% during the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company's stock worth $46,000 after acquiring an additional 163 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Louisiana-Pacific by 77.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company's stock worth $50,000 after purchasing an additional 201 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Louisiana-Pacific in the 2nd quarter valued at $53,000. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Lizanne C. Gottung sold 2,500 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $113.50, for a total value of $283,750.00. Following the transaction, the director now owns 18,513 shares in the company, valued at approximately $2,101,225.50. The trade was a 11.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ozey K. Horton, Jr. sold 300 shares of the company's 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 ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Louisiana-Pacific Trading Down 1.3 %

Shares of Louisiana-Pacific stock traded down $1.38 during trading on Friday, hitting $103.39. The company's stock had a trading volume of 435,918 shares, compared to its average volume of 812,748. The stock has a market cap of $7.26 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 2.72 and a beta of 1.91. 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 Co. has a 52 week low of $63.76 and a 52 week high of $122.87. The stock has a 50-day moving average price of $109.91 and a two-hundred day moving average price of $100.12.

Louisiana-Pacific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.01%. Louisiana-Pacific's dividend payout ratio (DPR) is 17.93%.

Wall Street Analyst Weigh In

LPX has been the subject of a number of research analyst reports. StockNews.com cut Louisiana-Pacific from a "buy" rating to a "hold" rating in a report on Sunday, November 10th. BMO Capital Markets boosted their target price 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 raised their price target 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. Truist Financial upped their price objective on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group increased their price objective on shares of Louisiana-Pacific from $90.00 to $99.00 and gave the company a "sell" rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $102.22.

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.