Wedge Capital Management L L P NC Sells 16,413 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Wedge Capital Management L L P NC reduced its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 21.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 58,737 shares of the building manufacturing company’s stock after selling 16,413 shares during the period. Wedge Capital Management L L P NC owned approximately 0.08% of Louisiana-Pacific worth $6,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in Louisiana-Pacific by 11,417.9% during the third quarter. Pacer Advisors Inc. now owns 1,106,410 shares of the building manufacturing company’s stock worth $118,895,000 after purchasing an additional 1,096,804 shares during the last quarter. FMR LLC lifted its position in Louisiana-Pacific by 25.2% in the 3rd quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company’s stock worth $340,427,000 after buying an additional 638,058 shares during the last quarter. Marshall Wace LLP boosted its stake in Louisiana-Pacific by 92.4% in the second quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock worth $103,363,000 after buying an additional 602,803 shares in the last quarter. State Street Corp grew its position in Louisiana-Pacific by 10.8% during the third quarter. State Street Corp now owns 2,154,561 shares of the building manufacturing company’s stock valued at $231,529,000 after acquiring an additional 210,113 shares during the last quarter. Finally, Bamco Inc. NY raised its stake in shares of Louisiana-Pacific by 65.7% during the third quarter. Bamco Inc. NY now owns 516,472 shares of the building manufacturing company’s stock worth $55,500,000 after acquiring an additional 204,828 shares in the last quarter. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 300 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was 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 $3,247,835.58. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $113.50, for a total value of $283,750.00. Following the transaction, the director now directly owns 18,513 shares of the company’s stock, valued at $2,101,225.50. This represents a 11.90 % decrease in their position. The disclosure for this sale can be found here. 1.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LPX has been the topic of several recent research reports. DA Davidson increased their target price on shares of Louisiana-Pacific from $110.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets lifted their price objective on Louisiana-Pacific from $99.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. The Goldman Sachs Group increased their target price on Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada lifted their price target on Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, TD Securities increased their price objective on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $108.38.

Louisiana-Pacific Stock Performance

Shares of LPX stock opened at $114.85 on Friday. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.27 and a beta of 1.94. The stock has a fifty day moving average of $111.41 and a 200 day moving average of $102.42. Louisiana-Pacific Co. has a 52 week low of $63.76 and a 52 week high of $122.87. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Wednesday, November 20th. Louisiana-Pacific’s payout ratio is 17.93%.

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.