State of Alaska Department of Revenue Has $524,000 Stake in Louisiana-Pacific Co. (NYSE:LPX)

State of Alaska Department of Revenue trimmed its holdings in Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 70.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,244 shares of the building manufacturing company’s stock after selling 24,038 shares during the period. State of Alaska Department of Revenue’s holdings in Louisiana-Pacific were worth $524,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Louisiana State Employees Retirement System acquired a new stake in shares of Louisiana-Pacific in the third quarter valued at approximately $1,008,000. Abacus Planning Group Inc. acquired a new stake in Louisiana-Pacific during the 3rd quarter worth approximately $233,000. Pacer Advisors Inc. lifted its holdings in Louisiana-Pacific by 7.2% during the 3rd quarter. Pacer Advisors Inc. now owns 667,448 shares of the building manufacturing company’s stock worth $34,167,000 after purchasing an additional 44,833 shares during the last quarter. Paradiem LLC lifted its holdings in Louisiana-Pacific by 5.1% during the 3rd quarter. Paradiem LLC now owns 58,330 shares of the building manufacturing company’s stock worth $2,986,000 after purchasing an additional 2,826 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its holdings in Louisiana-Pacific by 14.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 118,248 shares of the building manufacturing company’s stock worth $6,053,000 after purchasing an additional 15,199 shares during the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock opened at $63.86 on Friday. The stock’s fifty day moving average price is $61.38 and its two-hundred day moving average price is $57.96. Louisiana-Pacific Co. has a one year low of $48.20 and a one year high of $78.97. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.33 and a quick ratio of 1.54. The firm has a market cap of $4.58 billion, a PE ratio of 4.10 and a beta of 1.62.

Louisiana-Pacific (NYSE:LPX – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The building manufacturing company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. Louisiana-Pacific had a return on equity of 77.64% and a net margin of 29.88%. The company had revenue of $852.00 million for the quarter, compared to analyst estimates of $847.81 million. As a group, research analysts expect that Louisiana-Pacific Co. will post 12.02 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Wednesday, November 9th were paid a $0.22 dividend. The ex-dividend date was Tuesday, November 8th. This represents a $0.88 annualized dividend and a dividend yield of 1.38%. Louisiana-Pacific’s payout ratio is 5.65%.

Insider Activity

In other news, Director Lizanne C. Gottung sold 3,587 shares of Louisiana-Pacific stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $62.52, for a total value of $224,259.24. Following the transaction, the director now owns 27,470 shares in the company, valued at approximately $1,717,424.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LPX shares. DA Davidson cut Louisiana-Pacific from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $69.00 to $63.00 in a report on Thursday. StockNews.com started coverage on Louisiana-Pacific in a report on Wednesday, October 12th. They set a “hold” rating for the company. TD Securities cut Louisiana-Pacific from a “buy” rating to a “hold” rating and set a $72.00 price target for the company. in a report on Monday, December 19th. Finally, Bank of America lowered Louisiana-Pacific from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $64.00 to $56.00 in a research note on Tuesday, September 20th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.60.

Louisiana-Pacific Company Profile

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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.