Oppenheimer Asset Management Inc. Lowers Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Oppenheimer Asset Management Inc. trimmed its stake in Louisiana-Pacific Co. (NYSE:LPX) by 9.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,012 shares of the building manufacturing company’s stock after selling 1,833 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Louisiana-Pacific were worth $1,936,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in LPX. Entropy Technologies LP increased its holdings in Louisiana-Pacific by 79.5% in the 3rd quarter. Entropy Technologies LP now owns 4,395 shares of the building manufacturing company’s stock valued at $472,000 after purchasing an additional 1,946 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its position in shares of Louisiana-Pacific by 5.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 5,917 shares of the building manufacturing company’s stock worth $636,000 after buying an additional 332 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Louisiana-Pacific by 4.2% in the third quarter. Crossmark Global Holdings Inc. now owns 4,442 shares of the building manufacturing company’s stock valued at $477,000 after buying an additional 181 shares in the last quarter. Covestor Ltd raised 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, Assetmark Inc. lifted its stake in Louisiana-Pacific by 4.7% during the 3rd quarter. Assetmark Inc. now owns 12,646 shares of the building manufacturing company’s stock worth $1,359,000 after acquiring an additional 571 shares in the last quarter. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LPX has been the subject of several research reports. DA Davidson lifted 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. Bank of America upped their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a research note on Thursday, September 12th. BMO Capital Markets raised 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 report on Tuesday, November 12th. Royal Bank of Canada upped their price objective on Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, TD Securities lifted their target price on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $102.22.

Insider Buying and Selling at Louisiana-Pacific

In related news, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the completion of the sale, the chief executive officer now owns 596,886 shares in the company, valued at $55,773,027.84. This represents a 5.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific 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 completion of the transaction, the director now owns 21,005 shares in the company, valued at approximately $2,064,791.50. This represents a 10.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,400 shares of company stock worth $3,325,917 over the last 90 days. Corporate insiders own 1.26% of the company’s stock.

Louisiana-Pacific Stock Performance

Shares of Louisiana-Pacific stock opened at $111.97 on Friday. 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 Co. has a 52 week low of $60.00 and a 52 week high of $114.33. The firm’s 50 day moving average is $104.20 and its two-hundred day moving average is $94.81. The firm has a market capitalization of $7.86 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.68 and a beta of 1.88.

Louisiana-Pacific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 yield of 0.93%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 17.93%.

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.