Mitsubishi UFJ Trust & Banking Corp grew its holdings in Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 41.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,329 shares of the building manufacturing company’s stock after purchasing an additional 8,021 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Louisiana-Pacific were worth $1,432,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of LPX. SG Americas Securities LLC raised its holdings in shares of Louisiana-Pacific by 343.8% in the 1st quarter. SG Americas Securities LLC now owns 26,378 shares of the building manufacturing company’s stock valued at $1,639,000 after purchasing an additional 20,434 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Louisiana-Pacific by 1.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 80,235 shares of the building manufacturing company’s stock worth $4,984,000 after acquiring an additional 1,451 shares in the last quarter. CENTRAL TRUST Co raised its stake in shares of Louisiana-Pacific by 189.0% during the 1st quarter. CENTRAL TRUST Co now owns 1,445 shares of the building manufacturing company’s stock worth $90,000 after acquiring an additional 945 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Louisiana-Pacific by 9.6% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 49,756 shares of the building manufacturing company’s stock worth $3,091,000 after acquiring an additional 4,360 shares in the last quarter. Finally, WealthPLAN Partners LLC raised its stake in shares of Louisiana-Pacific by 4.6% during the 1st quarter. WealthPLAN Partners LLC now owns 12,840 shares of the building manufacturing company’s stock worth $828,000 after acquiring an additional 570 shares in the last quarter. Institutional investors own 91.07% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on LPX shares. Bank of America lowered shares of Louisiana-Pacific from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $64.00 to $56.00 in a research note on Tuesday, September 20th. DA Davidson boosted their price objective on shares of Louisiana-Pacific to $70.00 in a research note on Monday, August 15th. StockNews.com began coverage on shares of Louisiana-Pacific in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, TD Securities dropped their target price on shares of Louisiana-Pacific from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $66.50.
Louisiana-Pacific Stock Up 0.6 %
Louisiana-Pacific Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Wednesday, November 9th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, November 8th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 5.65%.
Louisiana-Pacific Corporation, together with its subsidiaries, manufactures and markets building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through four segments: Siding; Oriented Strand Board (OSB); Engineered Wood Products (EWP); and South America.
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