Campbell & CO Investment Adviser LLC purchased a new stake in Louisiana-Pacific Co. (NYSE:LPX) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,451 shares of the building manufacturing company’s stock, valued at approximately $249,000.
A number of other large investors also recently modified their holdings of the business. Captrust Financial Advisors bought a new position in shares of Louisiana-Pacific during the second quarter worth $33,000. Hoover Financial Advisors Inc. acquired a new position in Louisiana-Pacific in the second quarter valued at about $34,000. Canada Pension Plan Investment Board grew its stake in Louisiana-Pacific by 52.8% in the second quarter. Canada Pension Plan Investment Board now owns 1,476 shares of the building manufacturing company’s stock valued at $38,000 after acquiring an additional 510 shares during the period. Bourgeon Capital Management LLC bought a new stake in shares of Louisiana-Pacific in the second quarter worth about $51,000. Finally, Nachman Norwood & Parrott Inc acquired a new stake in shares of Louisiana-Pacific during the third quarter worth about $57,000. 92.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:LPX opened at $30.71 on Friday. The company’s 50-day moving average price is $31.33 and its two-hundred day moving average price is $26.16. Louisiana-Pacific Co. has a one year low of $12.97 and a one year high of $34.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.15 and a quick ratio of 2.05. The stock has a market capitalization of $3.45 billion, a PE ratio of 191.95 and a beta of 1.87.
A number of research firms recently issued reports on LPX. Zacks Investment Research raised Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, July 7th. Bank of America raised their price objective on shares of Louisiana-Pacific from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, September 11th. TD Securities upped their target price on shares of Louisiana-Pacific from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Wednesday, August 5th. Stephens downgraded Louisiana-Pacific from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $28.00 to $22.00 in a research note on Wednesday, September 30th. Finally, Scotiabank upped their price objective on Louisiana-Pacific from $30.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Louisiana-Pacific has an average rating of “Buy” and a consensus price target of $30.63.
In other news, Director Kurt M. Landgraf sold 29,352 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $30.60, for a total value of $898,171.20. Following the completion of the sale, the director now owns 28,988 shares of the company’s stock, valued at approximately $887,032.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.40% of the company’s stock.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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