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

Moran Wealth Management LLC cut its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LPX. Ontario Teachers Pension Plan Board bought a new position in shares of Louisiana-Pacific during the 3rd quarter valued at about $663,000. First Horizon Advisors Inc. lifted its stake in Louisiana-Pacific by 77.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company’s stock valued at $50,000 after buying an additional 201 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Louisiana-Pacific by 754.3% in the third quarter. Meeder Asset Management Inc. now owns 31,089 shares of the building manufacturing company’s stock valued at $3,341,000 after buying an additional 27,450 shares during the period. Quest Partners LLC increased its position in shares of Louisiana-Pacific by 58.9% during the third quarter. Quest Partners LLC now owns 9,530 shares of the building manufacturing company’s stock worth $1,024,000 after acquiring an additional 3,533 shares in the last quarter. Finally, Chesapeake Capital Corp IL raised its holdings in shares of Louisiana-Pacific by 27.9% during the third quarter. Chesapeake Capital Corp IL now owns 7,622 shares of the building manufacturing company’s stock worth $817,000 after acquiring an additional 1,663 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Louisiana-Pacific Stock Up 2.7 %

Shares of LPX stock opened at $114.40 on Friday. Louisiana-Pacific Co. has a 52-week low of $60.27 and a 52-week high of $117.59. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.69 and a beta of 1.88. The firm’s 50-day moving average is $105.33 and its 200-day moving average is $95.63. 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 Dividend Announcement

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

Analysts Set New Price Targets

LPX has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. Bank of America increased their price objective on Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. StockNews.com cut Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Sunday, November 10th. Truist Financial raised 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. Finally, TD Securities boosted their price objective on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Louisiana-Pacific presently has a consensus rating of “Hold” and a consensus price target of $102.22.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific 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 value of $245,750.00. Following the transaction, the director now directly owns 21,005 shares in the company, valued at $2,064,791.50. The trade was a 10.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $34,023.00. Following the sale, 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. 1.26% of the stock is currently owned by corporate insiders.

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.