The Manufacturers Life Insurance Company Has $5.70 Million Stake in Louisiana-Pacific Co. (NYSE:LPX)

The Manufacturers Life Insurance Company reduced its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,003 shares of the building manufacturing company’s stock after selling 2,978 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Louisiana-Pacific worth $5,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Harbor Capital Advisors Inc. bought a new position in Louisiana-Pacific during the 3rd quarter worth approximately $38,000. GAMMA Investing LLC raised its holdings in Louisiana-Pacific by 57.3% in the second quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock worth $40,000 after purchasing an additional 177 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Louisiana-Pacific during the third quarter worth $43,000. Covestor Ltd grew its holdings in shares of Louisiana-Pacific by 61.0% in the 3rd quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock valued at $46,000 after buying an additional 163 shares during the period. Finally, First Horizon Advisors Inc. increased its position in shares of 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 buying an additional 201 shares in the last quarter. 94.73% of the stock is owned by institutional investors.

Louisiana-Pacific Trading Up 1.9 %

Shares of NYSE:LPX opened at $119.96 on Friday. The company’s 50-day moving average price is $108.62 and its two-hundred day moving average price is $97.99. Louisiana-Pacific Co. has a one year low of $61.25 and a one year high of $122.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.92 and a quick ratio of 1.69. The stock has a market capitalization of $8.43 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.82 and a beta of 1.91.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, November 20th. This represents a $1.04 annualized dividend and a yield of 0.87%. Louisiana-Pacific’s payout ratio is presently 17.93%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. DA Davidson boosted their price objective 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 increased their target price on Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a research note on Wednesday, November 6th. BMO Capital Markets lifted their price target on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Finally, StockNews.com downgraded shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $102.22.

Insider Activity at Louisiana-Pacific

In other news, Director Ozey K. Horton, Jr. sold 300 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $113.41, for a total value of $34,023.00. Following the sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, 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. Insiders own 1.26% of the company’s stock.

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.