Principal Financial Group Inc. Decreases Position in Louisiana-Pacific Co. (NYSE:LPX)

Principal Financial Group Inc. reduced its position in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 29.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,255 shares of the building manufacturing company's stock after selling 63,782 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of Louisiana-Pacific worth $16,039,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Harbor Capital Advisors Inc. acquired a new position in shares of Louisiana-Pacific during the third quarter valued at about $38,000. V Square Quantitative Management LLC acquired a new position in Louisiana-Pacific during the 3rd quarter valued at about $43,000. Bessemer Group Inc. increased its holdings in Louisiana-Pacific by 258.5% during the 1st quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company's stock worth $37,000 after purchasing an additional 318 shares in the last quarter. GAMMA Investing LLC raised its stake 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 worth $40,000 after purchasing an additional 177 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Louisiana-Pacific in the second quarter valued at approximately $53,000. Institutional investors and hedge funds own 94.73% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LPX shares. DA Davidson upped their price target on Louisiana-Pacific from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. The Goldman Sachs Group increased their target price on shares of Louisiana-Pacific from $90.00 to $99.00 and gave the company a "sell" rating in a report on Wednesday, November 6th. BMO Capital Markets boosted their price target on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the stock a "market perform" rating in a report on Tuesday. Royal Bank of Canada increased their price target on Louisiana-Pacific from $119.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Finally, Bank of America boosted 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Louisiana-Pacific presently has a consensus rating of "Hold" and an average target price of $102.22.

Louisiana-Pacific Stock Performance

Louisiana-Pacific stock traded down $0.47 during midday trading on Friday, reaching $111.97. The stock had a trading volume of 646,442 shares, compared to its average volume of 839,252. The company has a quick ratio of 1.69, a current ratio of 2.92 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $7.86 billion, a PE ratio of 19.31, a P/E/G ratio of 2.68 and a beta of 1.88. Louisiana-Pacific Co. has a 12 month low of $60.00 and a 12 month high of $114.33. The firm's 50-day moving average price is $104.20 and its 200 day moving average price is $94.81.

Louisiana-Pacific Dividend Announcement

The business 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. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.93%. Louisiana-Pacific's payout ratio is 17.93%.

Insider Buying and Selling

In other news, 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 value of $34,023.00. Following the transaction, the director now owns 28,638 shares of the company's stock, valued at approximately $3,247,835.58. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction on Monday, September 16th. The shares were 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 of the company's stock, valued at $2,064,791.50. This represents a 10.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,400 shares of company stock valued at $3,325,917. Corporate insiders own 1.26% of the company's stock.

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.