Kingsview Wealth Management LLC Takes Position in Louisiana-Pacific Co. (NYSE:LPX)

Kingsview Wealth Management LLC bought a new position in shares of Louisiana-Pacific Co. (NYSE:LPX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,203 shares of the building manufacturing company’s stock, valued at approximately $237,000.

Several other large investors have also recently bought and sold shares of the business. Cerity Partners LLC boosted its position in shares of Louisiana-Pacific by 119.4% during the 3rd quarter. Cerity Partners LLC now owns 80,336 shares of the building manufacturing company’s stock worth $8,633,000 after acquiring an additional 43,717 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Louisiana-Pacific by 32.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 662,496 shares of the building manufacturing company’s stock valued at $71,192,000 after purchasing an additional 162,976 shares in the last quarter. Pacer Advisors Inc. increased its stake in Louisiana-Pacific by 11,417.9% in the third quarter. Pacer Advisors Inc. now owns 1,106,410 shares of the building manufacturing company’s stock valued at $118,895,000 after purchasing an additional 1,096,804 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Louisiana-Pacific during the third quarter worth approximately $663,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Louisiana-Pacific by 77.3% during 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. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Stock Up 1.5 %

LPX stock opened at $118.36 on Friday. The stock has a market capitalization of $8.31 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 2.81 and a beta of 1.88. The company has a fifty day moving average of $107.68 and a 200-day moving average of $97.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.92. Louisiana-Pacific Co. has a one year low of $60.37 and a one year high of $122.87.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Wednesday, November 20th. Louisiana-Pacific’s dividend payout ratio is presently 17.93%.

Insiders Place Their Bets

In other news, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction 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 position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on LPX. Truist Financial lifted 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 downgraded Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Sunday, November 10th. Bank of America raised their price target on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. Royal Bank of Canada increased their price objective on Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group lifted 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. Two investment 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. Based on data from MarketBeat, Louisiana-Pacific has an average 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.