Tidal Investments LLC Boosts Stake in Louisiana-Pacific Co. (NYSE:LPX)

Tidal Investments LLC increased its stake in Louisiana-Pacific Co. (NYSE:LPX) by 35.0% in the 3rd quarter, Holdings Channel reports. The fund owned 28,623 shares of the building manufacturing company’s stock after buying an additional 7,419 shares during the quarter. Tidal Investments LLC’s holdings in Louisiana-Pacific were worth $3,076,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. bought a new stake in Louisiana-Pacific during the third quarter worth about $38,000. V Square Quantitative Management LLC bought a new position in shares of Louisiana-Pacific during the 3rd quarter valued at about $43,000. Covestor Ltd raised its holdings in shares of Louisiana-Pacific by 61.0% during the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock valued at $46,000 after buying an additional 163 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Louisiana-Pacific by 77.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company’s stock worth $50,000 after buying an additional 201 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Louisiana-Pacific in the second quarter worth approximately $53,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $2,064,791.50. The trade was a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ozey K. Horton, Jr. sold 300 shares of the firm’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 $3,247,835.58. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

Louisiana-Pacific Price Performance

LPX opened at $112.83 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. The company has a market cap of $7.93 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 2.82 and a beta of 1.91. The stock has a fifty day simple moving average of $109.77 and a two-hundred day simple moving average of $99.16. Louisiana-Pacific Co. has a 12-month low of $63.76 and a 12-month high of $122.87.

Louisiana-Pacific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors 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 0.92%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 17.93%.

Wall Street Analyst Weigh In

Several research firms have commented on LPX. Bank of America lifted their price target on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. DA Davidson lifted their target price on shares of Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Truist Financial boosted their price target on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. StockNews.com cut Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Sunday, November 10th. Finally, BMO Capital Markets boosted their target price on Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $102.22.

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.