Verition Fund Management LLC Reduces Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Verition Fund Management LLC cut its stake in Louisiana-Pacific Co. (NYSE:LPX) by 40.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,064 shares of the building manufacturing company’s stock after selling 4,099 shares during the quarter. Verition Fund Management LLC’s holdings in Louisiana-Pacific were worth $652,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Louisiana-Pacific during the third quarter valued at about $38,000. V Square Quantitative Management LLC bought a new stake in Louisiana-Pacific during the 3rd quarter worth approximately $43,000. Covestor Ltd lifted its stake in Louisiana-Pacific by 61.0% in the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock worth $46,000 after purchasing an additional 163 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings 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 valued at $50,000 after purchasing an additional 201 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Louisiana-Pacific during the 2nd quarter valued at $53,000. 94.73% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ozey K. Horton, Jr. sold 300 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was 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 legal filing with the SEC, which is available through this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the completion of the transaction, the director now owns 21,005 shares of the company’s stock, valued at $2,064,791.50. This trade represents a 10.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.53% of the stock is owned by insiders.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $116.65 on Wednesday. The company has a 50-day simple moving average of $109.27 and a two-hundred day simple moving average of $98.69. Louisiana-Pacific Co. has a 12-month low of $61.25 and a 12-month high of $122.87. The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.90 and a beta of 1.91. The company has a quick ratio of 1.69, a current ratio of 2.92 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th were paid a $0.26 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a yield of 0.89%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 17.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. DA Davidson lifted their price target on Louisiana-Pacific from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. 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 research report on Wednesday, November 6th. StockNews.com lowered shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. Finally, 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 report on Thursday, September 12th. Two 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $102.22.

Louisiana-Pacific 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.