South Dakota Investment Council reduced its stake in Louisiana-Pacific Co. (NYSE:LPX) by 46.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,690 shares of the building manufacturing company’s stock after selling 32,110 shares during the period. South Dakota Investment Council’s holdings in Louisiana-Pacific were worth $919,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of LPX. Norges Bank bought a new position in shares of Louisiana-Pacific in the fourth quarter worth $52,903,000. Ceredex Value Advisors LLC bought a new position in shares of Louisiana-Pacific in the fourth quarter worth $34,060,000. Victory Capital Management Inc. bought a new position in shares of Louisiana-Pacific in the first quarter worth $34,631,000. Oregon Public Employees Retirement Fund boosted its holdings in shares of Louisiana-Pacific by 2,122.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,268,318 shares of the building manufacturing company’s stock worth $57,000 after acquiring an additional 1,211,238 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Louisiana-Pacific by 70.7% in the fourth quarter. Millennium Management LLC now owns 2,693,753 shares of the building manufacturing company’s stock worth $59,855,000 after acquiring an additional 1,115,786 shares during the period. 89.44% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the company. TD Securities cut their price target on Louisiana-Pacific from $27.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Zacks Investment Research raised Louisiana-Pacific from a “sell” rating to a “hold” rating in a report on Monday, May 6th. ValuEngine upgraded Louisiana-Pacific from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Bank of America upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $24.75 price objective on the stock in a research report on Tuesday, April 30th. Finally, Stephens upgraded Louisiana-Pacific from an “equal weight” rating to an “overweight” rating and set a $32.00 price objective on the stock in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $28.13.
Shares of LPX stock opened at $24.31 on Wednesday. The company has a current ratio of 3.55, a quick ratio of 2.25 and a debt-to-equity ratio of 0.28. Louisiana-Pacific Co. has a 52-week low of $20.39 and a 52-week high of $32.16. The firm has a market capitalization of $2.99 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 3.24 and a beta of 1.37.
Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Tuesday, May 7th. The building manufacturing company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.03). Louisiana-Pacific had a net margin of 12.16% and a return on equity of 19.63%. The firm had revenue of $582.00 million for the quarter, compared to analysts’ expectations of $601.49 million. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. On average, analysts predict that Louisiana-Pacific Co. will post 1.5 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Tuesday, May 21st will be issued a $0.135 dividend. The ex-dividend date is Monday, May 20th. This represents a $0.54 annualized dividend and a dividend yield of 2.22%. Louisiana-Pacific’s dividend payout ratio is currently 19.71%.
In other news, Director Gary Cook sold 4,000 shares of Louisiana-Pacific stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $24.76, for a total value of $99,040.00. Following the transaction, the director now owns 52,139 shares in the company, valued at $1,290,961.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.40% of the stock is currently owned by insiders.
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Louisiana-Pacific Company Profile
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 also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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