State Board of Administration of Florida Retirement System Sells 5,200 Shares of Louisiana-Pacific Co. (NYSE:LPX)

Posted by Defense World Staff on May 14th, 2023

State Board of Administration of Florida Retirement System lowered its position in shares of Louisiana-Pacific Co. (NYSE:LPX – Get Rating) by 10.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,648 shares of the building manufacturing company’s stock after selling 5,200 shares during the period. State Board of Administration of Florida Retirement System owned about 0.07% of Louisiana-Pacific worth $2,762,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in Louisiana-Pacific by 2.9% during the 3rd quarter. First Trust Advisors LP now owns 3,614,296 shares of the building manufacturing company’s stock valued at $185,015,000 after purchasing an additional 102,847 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Louisiana-Pacific by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,446,527 shares of the building manufacturing company’s stock worth $125,238,000 after buying an additional 35,525 shares during the last quarter. State Street Corp grew its stake in shares of Louisiana-Pacific by 2.1% in the 1st quarter. State Street Corp now owns 2,441,912 shares of the building manufacturing company’s stock worth $151,692,000 after buying an additional 50,575 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Louisiana-Pacific by 71.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,227,429 shares of the building manufacturing company’s stock worth $62,832,000 after buying an additional 510,809 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Louisiana-Pacific by 1.9% in the 1st quarter. Invesco Ltd. now owns 1,016,035 shares of the building manufacturing company’s stock worth $63,115,000 after buying an additional 18,612 shares during the last quarter. Institutional investors own 99.23% of the company’s stock.

Louisiana-Pacific Price Performance

NYSE:LPX opened at $62.55 on Friday. The company has a quick ratio of 1.30, a current ratio of 3.11 and a debt-to-equity ratio of 0.24. The business’s 50-day simple moving average is $57.70 and its two-hundred day simple moving average is $60.56. The stock has a market cap of $4.51 billion, a PE ratio of 7.86 and a beta of 1.64. Louisiana-Pacific Co. has a 52 week low of $48.20 and a 52 week high of $74.41.

Louisiana-Pacific (NYSE:LPX – Get Rating) last posted its quarterly earnings results on Wednesday, May 3rd. The building manufacturing company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.27. Louisiana-Pacific had a return on equity of 37.43% and a net margin of 19.05%. The business had revenue of $584.00 million for the quarter, compared to analysts’ expectations of $618.23 million. During the same period last year, the firm earned $5.08 earnings per share. The business’s quarterly revenue was down 56.3% on a year-over-year basis. As a group, analysts forecast that Louisiana-Pacific Co. will post 2.53 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Friday, May 12th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $0.96 annualized dividend and a dividend yield of 1.53%. Louisiana-Pacific’s dividend payout ratio (DPR) is 12.06%.

Analyst Ratings Changes

Several research firms recently weighed in on LPX. Truist Financial cut their price target on Louisiana-Pacific from $49.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, February 27th. TD Securities raised Louisiana-Pacific from a “hold” rating to a “buy” rating and upped their price objective for the company from $63.00 to $75.00 in a research report on Thursday, May 4th. StockNews.com cut Louisiana-Pacific from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, DA Davidson upped their price objective on Louisiana-Pacific from $60.00 to $65.00 in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.60.

Louisiana-Pacific Company Profile

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Louisiana-Pacific Corp. engages in the provision of building solutions. It operates through the following segments: Siding, Oriented Strand Board (OSB), South America, and Other. The Siding segment offers engineered wood siding under the brands of LP, SmartSide, Trim and Siding LP, SmartSide, ExpertFinish, Trim and Siding, LP BuilderSeries, Lap Siding, and Outdoor Building Solutions.