Louisiana-Pacific Co. (NYSE:LPX) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its position in shares of Louisiana-Pacific Co. (NYSE:LPX) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 18,142 shares of the building manufacturing company’s stock after selling 319 shares during the quarter. Arizona State Retirement System’s holdings in Louisiana-Pacific were worth $1,285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LPX. First Trust Advisors LP lifted its position in Louisiana-Pacific by 24.7% during the 1st quarter. First Trust Advisors LP now owns 3,311,921 shares of the building manufacturing company’s stock worth $205,737,000 after acquiring an additional 655,132 shares during the period. Norges Bank acquired a new stake in Louisiana-Pacific during the 4th quarter worth about $37,576,000. Ceredex Value Advisors LLC lifted its position in Louisiana-Pacific by 434.3% during the 3rd quarter. Ceredex Value Advisors LLC now owns 695,900 shares of the building manufacturing company’s stock worth $38,462,000 after acquiring an additional 565,650 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Louisiana-Pacific during the 1st quarter worth about $29,881,000. Finally, Invesco Ltd. lifted its position in Louisiana-Pacific by 57.8% during the 3rd quarter. Invesco Ltd. now owns 796,563 shares of the building manufacturing company’s stock worth $44,026,000 after acquiring an additional 291,833 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Insider Buying and Selling

In other Louisiana-Pacific news, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $77.58, for a total transaction of $193,950.00. Following the completion of the sale, the director now directly owns 25,995 shares in the company, valued at approximately $2,016,692.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.26% of the stock is currently owned by insiders.

Louisiana-Pacific Stock Performance

NYSE LPX opened at $76.77 on Monday. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 31.33 and a beta of 1.84. Louisiana-Pacific Co. has a twelve month low of $49.47 and a twelve month high of $84.54. The company has a current ratio of 3.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $75.57 and a 200 day moving average of $66.78.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Wednesday, February 14th. The building manufacturing company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.17. The company had revenue of $658.00 million during the quarter, compared to analysts’ expectations of $618.60 million. Louisiana-Pacific had a return on equity of 15.65% and a net margin of 6.90%. Louisiana-Pacific’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. Sell-side analysts anticipate that Louisiana-Pacific Co. will post 3.85 EPS for the current fiscal year.

Louisiana-Pacific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.26 dividend. This is a boost from Louisiana-Pacific’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, February 22nd. This represents a $1.04 dividend on an annualized basis and a yield of 1.35%. Louisiana-Pacific’s dividend payout ratio is presently 42.45%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LPX. TheStreet cut Louisiana-Pacific from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. TD Cowen reissued a “hold” rating and issued a $75.00 price objective on shares of Louisiana-Pacific in a report on Thursday, January 11th. Truist Financial boosted their price objective on Louisiana-Pacific from $75.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, January 4th. DA Davidson reissued a “buy” rating and issued a $76.00 price objective on shares of Louisiana-Pacific in a report on Tuesday, February 13th. Finally, TD Securities boosted their price objective on Louisiana-Pacific from $75.00 to $77.00 and gave the company a “hold” rating in a report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.71.

About Louisiana-Pacific

Louisiana-Pacific Corporation, together with its subsidiaries, provides building solutions primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It operates through Siding, Oriented Strand Board, LP South America, and Other segments. The Siding segment offers LP SmartSide trim and siding products, LP SmartSide ExpertFinish trim and siding products, LP BuilderSeries lap siding products, and LP Outdoor Building Solutions; and engineered wood siding, trim, soffit, and fascia products.