Maverick Capital Ltd. Invests $1.31 Million in Louisiana-Pacific Co. (NYSE:LPX)

Maverick Capital Ltd. bought a new position in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 12,189 shares of the building manufacturing company's stock, valued at approximately $1,310,000.

A number of other institutional investors have also recently modified their holdings of the business. Diversified Trust Co purchased a new position in shares of Louisiana-Pacific in the second quarter valued at $590,000. Ensign Peak Advisors Inc grew its stake in Louisiana-Pacific by 57.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 35,427 shares of the building manufacturing company's stock valued at $2,917,000 after acquiring an additional 12,950 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Louisiana-Pacific by 168.4% during the 2nd quarter. Hsbc Holdings PLC now owns 79,185 shares of the building manufacturing company's stock valued at $6,546,000 after acquiring an additional 49,682 shares in the last quarter. Empowered Funds LLC raised its position in Louisiana-Pacific by 238.1% during the third quarter. Empowered Funds LLC now owns 19,881 shares of the building manufacturing company's stock worth $2,136,000 after acquiring an additional 14,001 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Louisiana-Pacific by 11.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 228,988 shares of the building manufacturing company's stock valued at $18,853,000 after purchasing an additional 23,039 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LPX has been the subject of a number of recent research reports. 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. BMO Capital Markets raised their price target on Louisiana-Pacific from $99.00 to $103.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 12th. DA Davidson upped their price objective on Louisiana-Pacific from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Truist Financial increased their price objective on Louisiana-Pacific from $105.00 to $113.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Finally, Bank of America upped 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. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $102.22.

Louisiana-Pacific Trading Up 1.3 %

Louisiana-Pacific stock traded up $1.56 during trading on Friday, reaching $118.20. The company had a trading volume of 230,390 shares, compared to its average volume of 656,343. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.92. The firm has a market capitalization of $8.30 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 2.85 and a beta of 1.88. Louisiana-Pacific Co. has a 12-month low of $60.37 and a 12-month high of $122.87. The stock's 50 day moving average price is $107.68 and its two-hundred day moving average price is $97.31.

Louisiana-Pacific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th were issued 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 0.88%. Louisiana-Pacific's payout ratio is 17.93%.

Insider Activity at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 300 shares of Louisiana-Pacific 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 trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $98.30, for a total value of $245,750.00. Following the sale, the director now directly owns 21,005 shares in the company, valued at approximately $2,064,791.50. The trade was a 10.64 % 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 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.