Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 112.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,018 shares of the building manufacturing company’s stock after purchasing an additional 13,237 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Louisiana-Pacific were worth $738,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its position in shares of Louisiana-Pacific by 154.4% during the second quarter. Glenmede Trust Co. NA now owns 22,092 shares of the building manufacturing company’s stock worth $566,000 after acquiring an additional 13,407 shares during the last quarter. FMR LLC lifted its holdings in Louisiana-Pacific by 13.8% in the second quarter. FMR LLC now owns 2,142,928 shares of the building manufacturing company’s stock worth $54,966,000 after purchasing an additional 259,070 shares during the period. Marshall Wace LLP acquired a new stake in Louisiana-Pacific in the second quarter worth about $2,342,000. Smith Asset Management Group LP acquired a new stake in Louisiana-Pacific in the third quarter worth about $79,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Louisiana-Pacific by 40.2% in the third quarter. Envestnet Asset Management Inc. now owns 40,192 shares of the building manufacturing company’s stock worth $1,186,000 after purchasing an additional 11,522 shares during the period. Institutional investors and hedge funds own 92.35% of the company’s stock.
Louisiana-Pacific stock opened at $33.96 on Friday. The company’s fifty day simple moving average is $30.69 and its 200-day simple moving average is $28.51. The company has a quick ratio of 2.05, a current ratio of 3.70 and a debt-to-equity ratio of 0.30. Louisiana-Pacific Co. has a 12 month low of $12.97 and a 12 month high of $35.27. The stock has a market cap of $3.71 billion, a P/E ratio of 19.86 and a beta of 1.80.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be paid a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, November 12th. Louisiana-Pacific’s payout ratio is presently 156.76%.
LPX has been the subject of a number of research analyst reports. Bank of America upped their price target on shares of Louisiana-Pacific from $36.00 to $37.00 and gave the company a “buy” rating in a report on Friday, September 11th. TheStreet raised shares of Louisiana-Pacific from a “c” rating to a “b” rating in a report on Tuesday, November 3rd. ValuEngine raised shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Stephens downgraded shares of Louisiana-Pacific from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $28.00 to $22.00 in a report on Wednesday, September 30th. Finally, Scotiabank boosted their price objective on Louisiana-Pacific from $36.00 to $37.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.75.
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 operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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