Louisiana-Pacific (NYSE:LPX) Hits New 52-Week High - Still a Buy?

Louisiana-Pacific Co. (NYSE:LPX - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $114.33 and last traded at $114.03, with a volume of 46374 shares traded. The stock had previously closed at $112.44.

Wall Street Analysts Forecast Growth

LPX has been the subject of several analyst reports. BMO Capital Markets upped their target price on Louisiana-Pacific from $99.00 to $103.00 and gave the company a "market perform" rating in a report on Tuesday. 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 raised their target price on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an "underperform" rating in a research report on Thursday, September 12th. Truist Financial upped their target price on Louisiana-Pacific from $105.00 to $113.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Finally, TD Securities boosted their target price on Louisiana-Pacific from $115.00 to $123.00 and gave the company a "hold" 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 given a buy rating to the company. According to MarketBeat, Louisiana-Pacific presently has a consensus rating of "Hold" and an average price target of $102.22.

Louisiana-Pacific Stock Up 1.4 %

The firm's 50 day moving average price is $103.42 and its 200-day moving average price is $94.27. 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 company has a market cap of $8.01 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.68 and a beta of 1.88.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Wednesday, November 20th. Louisiana-Pacific's payout ratio is presently 17.93%.

Insider Buying and Selling

In related news, Director Lizanne C. Gottung sold 2,500 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the sale, the director now owns 21,005 shares of the company's stock, valued at $2,064,791.50. This trade represents a 10.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ozey K. Horton, Jr. sold 300 shares of Louisiana-Pacific stock in a transaction that occurred 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 transaction, 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. In the last three months, insiders sold 35,400 shares of company stock valued at $3,325,917. 1.26% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. William Blair Investment Management LLC bought a new stake in Louisiana-Pacific during the 2nd quarter valued at $91,053,000. Pacer Advisors Inc. grew its stake in Louisiana-Pacific by 11,417.9% in 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. FMR LLC increased its stake in shares of Louisiana-Pacific by 25.2% in the 3rd quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company's stock worth $340,427,000 after acquiring an additional 638,058 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Louisiana-Pacific by 92.4% in the 2nd quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company's stock worth $103,363,000 after buying an additional 602,803 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Louisiana-Pacific by 188.3% in the second quarter. Renaissance Technologies LLC now owns 447,400 shares of the building manufacturing company's stock worth $36,834,000 after acquiring an additional 292,200 shares during the last quarter. 94.73% of the stock is owned by institutional investors.

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.

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