Warren Buffett is one of the most renowned investors of all time, so when he takes a new position, investors tend to take notice. According to Berkshire Hathaway's latest 13F filing, one of Buffett's newest positions is Louisiana-Pacific (NYSE: LPX), putting the spotlight on the siding and wood building products maker.

The stock was up 10% in after-hours trading following the news, indicating that Buffett's buy is leading investors to take a new interest in Louisiana-Pacific. Let's take a look at why Buffett likes the $4 billion company and why it could be a buy going forward. 

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Source Fool.com