Principal Financial Group Inc. Sells 63,782 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Principal Financial Group Inc. decreased its position in Louisiana-Pacific Co. (NYSE:LPX) by 29.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,255 shares of the building manufacturing company’s stock after selling 63,782 shares during the quarter. Principal Financial Group Inc. owned approximately 0.21% of Louisiana-Pacific worth $16,039,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Hanseatic Management Services Inc. boosted its position in shares of Louisiana-Pacific by 23.3% during the third quarter. Hanseatic Management Services Inc. now owns 835 shares of the building manufacturing company’s stock valued at $90,000 after buying an additional 158 shares during the last quarter. Emerald Advisers LLC grew its holdings in Louisiana-Pacific by 9.5% during the 3rd quarter. Emerald Advisers LLC now owns 317,241 shares of the building manufacturing company’s stock valued at $34,091,000 after buying an additional 27,544 shares in the last quarter. Van ECK Associates Corp grew its holdings in Louisiana-Pacific by 33.9% during the 3rd quarter. Van ECK Associates Corp now owns 38,468 shares of the building manufacturing company’s stock valued at $3,849,000 after buying an additional 9,735 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Louisiana-Pacific in the 3rd quarter worth approximately $38,000. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in Louisiana-Pacific by 0.7% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 230,642 shares of the building manufacturing company’s stock valued at $24,785,000 after acquiring an additional 1,654 shares during the period. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Price Performance

NYSE:LPX opened at $111.95 on Friday. The stock has a market cap of $7.86 billion, a PE ratio of 19.30, a P/E/G ratio of 2.68 and a beta of 1.88. Louisiana-Pacific Co. has a one year low of $60.00 and a one year high of $114.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.92. The stock has a 50 day moving average price of $104.20 and a 200 day moving average price of $94.66.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.04 annualized dividend and a yield of 0.93%. Louisiana-Pacific’s payout ratio is 17.93%.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific news, CEO William Bradley Southern sold 32,600 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $93.44, for a total value of $3,046,144.00. Following the sale, the chief executive officer now directly owns 596,886 shares in the company, valued at $55,773,027.84. This trade represents a 5.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ozey K. Horton, Jr. sold 300 shares of Louisiana-Pacific 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 sale, the director now owns 28,638 shares in the company, valued at $3,247,835.58. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,400 shares of company stock worth $3,325,917 over the last ninety days. Company insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their target price on Louisiana-Pacific from $99.00 to $103.00 and gave the company a “market perform” rating in a research report on Tuesday. DA Davidson upped their price target on Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. StockNews.com cut Louisiana-Pacific from a “buy” rating to a “hold” rating in a report on Sunday, November 10th. Truist Financial upped their price target on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, Bank of America increased their target price on Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.22.

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.