Patten & Patten Inc. TN Sells 5,268 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Patten & Patten Inc. TN cut its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,086 shares of the building manufacturing company's stock after selling 5,268 shares during the quarter. Louisiana-Pacific makes up 1.5% of Patten & Patten Inc. TN's portfolio, making the stock its 14th largest position. Patten & Patten Inc. TN owned about 0.30% of Louisiana-Pacific worth $22,683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LPX. Private Advisor Group LLC increased its stake in shares of Louisiana-Pacific by 4.1% during the 1st quarter. Private Advisor Group LLC now owns 7,839 shares of the building manufacturing company's stock worth $658,000 after purchasing an additional 312 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Louisiana-Pacific during the 1st quarter worth approximately $804,000. SG Americas Securities LLC grew its position in shares of Louisiana-Pacific by 1,183.9% during the 1st quarter. SG Americas Securities LLC now owns 65,556 shares of the building manufacturing company's stock worth $5,501,000 after purchasing an additional 60,450 shares in the last quarter. Sei Investments Co. grew its position in shares of Louisiana-Pacific by 354.7% during the 1st quarter. Sei Investments Co. now owns 42,610 shares of the building manufacturing company's stock worth $3,575,000 after purchasing an additional 33,239 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Louisiana-Pacific during the 1st quarter worth approximately $301,000. 94.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LPX has been the subject of several research reports. Truist Financial increased their price objective on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. StockNews.com downgraded shares of Louisiana-Pacific from a "buy" rating to a "hold" rating in a research note on Sunday. DA Davidson increased their price objective on shares of Louisiana-Pacific from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Bank of America increased their price objective 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. Finally, Royal Bank of Canada raised their price target on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Two research 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $101.78.

Louisiana-Pacific Stock Performance

LPX stock traded up $1.27 during mid-day trading on Monday, hitting $112.90. The company had a trading volume of 180,212 shares, compared to its average volume of 843,045. The firm has a market cap of $7.93 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.74 and a beta of 1.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.95 and a current ratio of 2.92. Louisiana-Pacific Co. has a 12 month low of $57.72 and a 12 month high of $114.21. The stock's fifty day moving average price is $102.40 and its two-hundred day moving average price is $93.62.

Louisiana-Pacific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.04 annualized dividend and a dividend yield of 0.92%. Louisiana-Pacific's payout ratio is 17.93%.

Insider Transactions at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $98.30, for a total value of $245,750.00. Following the completion of the transaction, the director now owns 21,005 shares in the company, valued at $2,064,791.50. This trade represents a 0.00 % 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. In related news, Director Lizanne C. Gottung sold 2,500 shares of the business's 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 transaction, the director now owns 21,005 shares of the company's stock, valued at approximately $2,064,791.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Bradley Southern sold 32,600 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the transaction, the chief executive officer now directly owns 596,886 shares of the company's stock, valued at approximately $55,773,027.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company's stock.

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.