Louisiana-Pacific Co. (NYSE:LPX) Shares Acquired by Merewether Investment Management LP

Merewether Investment Management LP raised its position in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 135,780 shares of the building manufacturing company's stock after buying an additional 12,600 shares during the quarter. Merewether Investment Management LP owned approximately 0.19% of Louisiana-Pacific worth $14,591,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Louisiana-Pacific in the third quarter valued at approximately $38,000. GAMMA Investing LLC increased its holdings in shares of Louisiana-Pacific by 57.3% in the second quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company's stock valued at $40,000 after purchasing an additional 177 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Louisiana-Pacific in the third quarter valued at approximately $43,000. Covestor Ltd increased its holdings in shares of 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. Finally, First Horizon Advisors Inc. increased its holdings in shares of 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. Hedge funds and other institutional investors own 94.73% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LPX shares. TD Securities boosted their target price on Louisiana-Pacific from $115.00 to $123.00 and gave the company a "hold" rating in a report on Wednesday, November 6th. DA Davidson boosted 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. Bank of America increased their price objective on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an "underperform" rating in a research report on Thursday, September 12th. Royal Bank of Canada increased their price objective on Louisiana-Pacific from $119.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. Finally, Truist Financial increased their price objective on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $102.22.

Insider Activity at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 300 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $113.41, for a total value of $34,023.00. Following the sale, the director now directly owns 28,638 shares of the company's stock, valued at approximately $3,247,835.58. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lizanne C. Gottung sold 2,500 shares of the firm's 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 completion of 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. Corporate insiders own 1.53% of the company's stock.

Louisiana-Pacific Price Performance

Shares of LPX stock traded up $0.50 during mid-day trading on Wednesday, reaching $117.75. The stock had a trading volume of 481,058 shares, compared to its average volume of 824,743. Louisiana-Pacific Co. has a 12-month low of $61.25 and a 12-month high of $122.87. The company has a market cap of $8.27 billion, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 2.83 and a beta of 1.91. The business has a 50-day simple moving average of $108.11 and a 200 day simple moving average of $97.69. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, November 20th. Louisiana-Pacific's payout ratio is currently 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.