Wellington Management Group LLP Sells 219,030 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Wellington Management Group LLP lessened its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 45.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 263,047 shares of the building manufacturing company’s stock after selling 219,030 shares during the quarter. Wellington Management Group LLP owned about 0.37% of Louisiana-Pacific worth $28,267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new stake in Louisiana-Pacific during the third quarter worth approximately $38,000. V Square Quantitative Management LLC bought a new position in shares of Louisiana-Pacific during the third quarter worth approximately $43,000. Covestor Ltd lifted its holdings in Louisiana-Pacific by 61.0% during 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 during the last quarter. First Horizon Advisors Inc. boosted its stake 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 acquired a new position in Louisiana-Pacific in the 2nd quarter valued at $53,000. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Trading Down 1.5 %

Shares of LPX opened at $115.37 on Friday. 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 Co. has a 52-week low of $61.25 and a 52-week high of $122.87. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.90 and a beta of 1.91. The business’s fifty day moving average is $109.63 and its 200-day moving average is $98.93.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.90%. The ex-dividend date was Wednesday, November 20th. Louisiana-Pacific’s payout ratio is 17.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LPX shares. 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. BMO Capital Markets lifted their price objective on shares of Louisiana-Pacific from $99.00 to $103.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. StockNews.com lowered shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research report on Sunday, November 10th. Bank of America raised their target price 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. Finally, Truist Financial boosted their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Louisiana-Pacific has a consensus rating of “Hold” and an average price target of $102.22.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 300 shares of the 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 directly owns 28,638 shares in the company, valued at approximately $3,247,835.58. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction that occurred 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 $2,064,791.50. The trade was a 10.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.

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.