New York State Teachers Retirement System Trims Position in Louisiana-Pacific Corporation $LPX

New York State Teachers Retirement System lessened its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,732 shares of the building manufacturing company’s stock after selling 6,047 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Louisiana-Pacific worth $5,928,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC purchased a new position in Louisiana-Pacific during the 2nd quarter valued at $26,000. North Ridge Wealth Advisors Inc. bought a new stake in shares of Louisiana-Pacific during the 2nd quarter valued at about $26,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Louisiana-Pacific during the second quarter valued at about $34,000. RMG Wealth Management LLC purchased a new position in shares of Louisiana-Pacific during the second quarter valued at about $44,000. Finally, Beacon Capital Management LLC raised its stake in Louisiana-Pacific by 570.6% in the second quarter. Beacon Capital Management LLC now owns 684 shares of the building manufacturing company’s stock worth $59,000 after buying an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Insiders Place Their Bets

In other news, CEO William Bradley Southern sold 14,166 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $93.08, for a total value of $1,318,571.28. Following the completion of the transaction, the chief executive officer owned 489,215 shares in the company, valued at $45,536,132.20. The trade was a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen E. Macadam purchased 3,200 shares of the stock in a transaction dated Friday, November 7th. The shares were acquired at an average cost of $78.06 per share, for a total transaction of $249,792.00. Following the completion of the acquisition, the director owned 41,149 shares of the company’s stock, valued at approximately $3,212,090.94. This represents a 8.43% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 113,344 shares of company stock valued at $10,170,949. Corporate insiders own 1.42% of the company’s stock.

Analyst Ratings Changes

LPX has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Louisiana-Pacific in a research report on Monday, December 29th. Truist Financial raised their target price on Louisiana-Pacific from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Barclays lifted their price target on Louisiana-Pacific from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Thursday. TD Securities decreased their price objective on Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Finally, Royal Bank Of Canada dropped their target price on shares of Louisiana-Pacific from $114.00 to $104.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Louisiana-Pacific presently has an average rating of “Moderate Buy” and a consensus price target of $106.57.

Louisiana-Pacific Stock Down 0.5%

NYSE:LPX opened at $93.23 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.72 and a current ratio of 2.93. The firm has a market cap of $6.49 billion, a P/E ratio of 30.17 and a beta of 1.80. Louisiana-Pacific Corporation has a fifty-two week low of $73.42 and a fifty-two week high of $119.91. The firm has a 50-day simple moving average of $82.70 and a two-hundred day simple moving average of $88.31.

Louisiana-Pacific (NYSE:LPX) last issued its earnings results on Wednesday, November 5th. The building manufacturing company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $663.00 million during the quarter, compared to the consensus estimate of $670.26 million. Louisiana-Pacific had a return on equity of 14.90% and a net margin of 7.69%.The company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 EPS. Analysts predict that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 14th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, November 14th. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 36.25%.

Louisiana-Pacific Company Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.