Moran Wealth Management LLC Sells 446 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Moran Wealth Management LLC cut its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 6.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,928 shares of the building manufacturing company’s stock after selling 446 shares during the period. Moran Wealth Management LLC’s holdings in Louisiana-Pacific were worth $744,000 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 LPX. Harbor Capital Advisors Inc. bought a new position in shares of Louisiana-Pacific during the 3rd quarter worth approximately $38,000. V Square Quantitative Management LLC bought a new position in Louisiana-Pacific during the third quarter worth $43,000. Covestor Ltd grew its holdings in Louisiana-Pacific by 61.0% in the third quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock worth $46,000 after purchasing an additional 163 shares during the period. Bessemer Group Inc. increased its stake in Louisiana-Pacific by 258.5% in the first quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock valued at $37,000 after purchasing an additional 318 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Louisiana-Pacific by 77.3% during the third 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. 94.73% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Louisiana-Pacific

In related 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 transaction of $245,750.00. Following the sale, the director now directly owns 21,005 shares in the company, valued at approximately $2,064,791.50. The trade was a 10.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $113.41, for a total value of $34,023.00. Following the completion of the transaction, the director now owns 28,638 shares of the company’s stock, valued at approximately $3,247,835.58. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Louisiana-Pacific Price Performance

Shares of NYSE:LPX opened at $114.40 on Friday. The firm has a market capitalization of $8.04 billion, a PE ratio of 19.72, a P/E/G ratio of 2.69 and a beta of 1.88. The company has a quick ratio of 1.69, a current ratio of 2.92 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $105.33 and a two-hundred day moving average price of $95.63. Louisiana-Pacific Co. has a twelve month low of $60.27 and a twelve month high of $117.59.

Louisiana-Pacific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a yield of 0.91%. Louisiana-Pacific’s dividend payout ratio is 17.93%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LPX shares. DA Davidson boosted their target price 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 target price on Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada boosted their price target on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. BMO Capital Markets boosted their target price on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Finally, Truist Financial increased their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Louisiana-Pacific currently has an average rating of “Hold” and an average 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.