Louisiana-Pacific (NYSE:LPX) Sets New 1-Year High – Still a Buy?

Louisiana-Pacific Co. (NYSE:LPX) hit a new 52-week high on Monday . The stock traded as high as $119.16 and last traded at $118.08, with a volume of 12358 shares trading hands. The stock had previously closed at $115.89.

Analyst Ratings Changes

Several research analysts have commented on LPX shares. BMO Capital Markets raised their target price on 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 cut shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Sunday, November 10th. Truist Financial increased their target price on shares of Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. TD Securities boosted their price target on shares of Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price objective on Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $102.22.

Louisiana-Pacific Stock Performance

The company has a current ratio of 2.92, a quick ratio of 1.69 and a debt-to-equity ratio of 0.21. The company has a market cap of $8.36 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.90 and a beta of 1.88. The company’s fifty day moving average is $106.51 and its 200 day moving average is $96.51.

Louisiana-Pacific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, November 20th. This represents a $1.04 annualized dividend and a yield of 0.87%. Louisiana-Pacific’s payout ratio is currently 17.93%.

Insider Activity

In related news, Director Ozey K. Horton, Jr. sold 300 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $113.41, for a total transaction of $34,023.00. Following the transaction, the director now owns 28,638 shares in the company, valued at $3,247,835.58. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.30, for a total value of $245,750.00. Following the sale, the director now directly owns 21,005 shares in the company, valued at approximately $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. Insiders own 1.53% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its holdings in shares of Louisiana-Pacific by 258.5% during the first quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock valued at $37,000 after acquiring an additional 318 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Louisiana-Pacific during the 3rd quarter valued at about $38,000. GAMMA Investing LLC raised its holdings in Louisiana-Pacific by 57.3% in the second quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock worth $40,000 after buying an additional 177 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Louisiana-Pacific in the third quarter worth approximately $43,000. Finally, Covestor Ltd grew its holdings in shares of Louisiana-Pacific by 61.0% during the third 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 last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

About Louisiana-Pacific

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.