State Street Corp Buys 210,113 Shares of Louisiana-Pacific Co. (NYSE:LPX)

State Street Corp increased its stake in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,154,561 shares of the building manufacturing company's stock after purchasing an additional 210,113 shares during the quarter. State Street Corp owned approximately 3.07% of Louisiana-Pacific worth $231,529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LPX. William Blair Investment Management LLC purchased a new stake in shares of Louisiana-Pacific in the second quarter worth $91,053,000. Pacer Advisors Inc. boosted its holdings in Louisiana-Pacific by 11,417.9% in the 3rd quarter. Pacer Advisors Inc. now owns 1,106,410 shares of the building manufacturing company's stock worth $118,895,000 after buying an additional 1,096,804 shares during the period. FMR LLC increased its stake in 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 buying an additional 638,058 shares in the last quarter. Marshall Wace LLP raised its holdings in Louisiana-Pacific by 92.4% during the second quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company's stock valued at $103,363,000 after acquiring an additional 602,803 shares during the period. Finally, Renaissance Technologies LLC lifted its position 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 valued at $36,834,000 after acquiring an additional 292,200 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 shares were sold at an average price of $113.41, for a total value of $34,023.00. Following the completion of the sale, the director now owns 28,638 shares of the company's stock, valued at $3,247,835.58. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lizanne C. Gottung sold 2,500 shares of the company'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 value of $245,750.00. Following the transaction, the director now directly owns 21,005 shares in the company, valued at approximately $2,064,791.50. This represents a 10.64 % 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 Price Performance

Shares of Louisiana-Pacific stock traded down $1.78 during trading hours on Thursday, reaching $115.37. The company's stock had a trading volume of 349,886 shares, compared to its average volume of 816,158. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.92 and a quick ratio of 1.69. Louisiana-Pacific Co. has a one year low of $61.25 and a one year high of $122.87. The firm has a 50 day moving average price of $109.63 and a 200-day moving average price of $98.93. The stock has a market cap of $8.10 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.90 and a beta of 1.91.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a yield of 0.90%. Louisiana-Pacific's dividend payout ratio (DPR) is presently 17.93%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada increased their target price on Louisiana-Pacific from $119.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 6th. TD Securities increased their price objective on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the company a "hold" rating in a report on Wednesday, November 6th. Truist Financial boosted their target price on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. DA Davidson raised their target price 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. Finally, BMO Capital Markets lifted their price target on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the company a "market perform" rating in a report on Tuesday, November 12th. Two investment 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $102.22.

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.