Harbor Capital Advisors Inc. Purchases Shares of 357 Louisiana-Pacific Co. (NYSE:LPX)

Harbor Capital Advisors Inc. purchased a new stake in shares of Louisiana-Pacific Co. (NYSE:LPX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 357 shares of the building manufacturing company’s stock, valued at approximately $38,000.

Several other institutional investors have also added to or reduced their stakes in LPX. Private Advisor Group LLC boosted its position in 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 valued at $658,000 after buying an additional 312 shares during the period. BNP Paribas Financial Markets raised its holdings in Louisiana-Pacific by 0.5% in the 1st quarter. BNP Paribas Financial Markets now owns 59,907 shares of the building manufacturing company’s stock worth $5,027,000 after purchasing an additional 285 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Louisiana-Pacific by 106.0% in the 1st quarter. GSA Capital Partners LLP now owns 9,769 shares of the building manufacturing company’s stock worth $820,000 after purchasing an additional 5,027 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in Louisiana-Pacific by 3.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,172 shares of the building manufacturing company’s stock worth $4,713,000 after purchasing an additional 2,084 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Louisiana-Pacific in the 1st quarter worth $804,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Up 2.6 %

NYSE:LPX opened at $111.63 on Friday. The firm has a market cap of $7.84 billion, a P/E ratio of 19.25, a P/E/G ratio of 4.79 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 fifty-two week low of $57.13 and a fifty-two week high of $113.04. The firm has a 50-day simple moving average of $102.40 and a two-hundred day simple moving average of $93.35.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Wednesday, August 7th. The building manufacturing company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.23. The business had revenue of $814.00 million during the quarter, compared to analyst estimates of $797.26 million. Louisiana-Pacific had a net margin of 14.29% and a return on equity of 24.50%. Louisiana-Pacific’s revenue was up 33.2% compared to the same quarter last year. During the same period last year, the business earned $0.55 EPS. Analysts predict that Louisiana-Pacific Co. will post 5.29 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Wednesday, November 20th. Louisiana-Pacific’s payout ratio is presently 17.93%.

Analyst Upgrades and Downgrades

LPX has been the subject of several research reports. Truist Financial upped their price objective 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. BMO Capital Markets lowered shares of Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 price objective for the company. in a report on Thursday, August 8th. The Goldman Sachs Group upped their price objective on shares of Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a report on Wednesday. Bank of America increased 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. Finally, Royal Bank of Canada increased their price target on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Louisiana-Pacific currently has an average rating of “Hold” and a consensus target price of $101.78.

Insider Activity

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

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.