Louisiana-Pacific Corporation (NYSE:LPX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,779 shares of the building manufacturing company’s stock after selling 4,300 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Louisiana-Pacific worth $6,694,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LPX. Alyeska Investment Group L.P. boosted its position in shares of Louisiana-Pacific by 1,736.2% in the fourth quarter. Alyeska Investment Group L.P. now owns 891,351 shares of the building manufacturing company’s stock worth $92,299,000 after acquiring an additional 842,809 shares during the last quarter. Norges Bank acquired a new stake in shares of Louisiana-Pacific in the fourth quarter worth approximately $78,181,000. FMR LLC boosted its position in shares of Louisiana-Pacific by 17.1% in the fourth quarter. FMR LLC now owns 3,708,649 shares of the building manufacturing company’s stock worth $384,031,000 after acquiring an additional 540,703 shares during the last quarter. Palestra Capital Management LLC acquired a new stake in shares of Louisiana-Pacific in the fourth quarter worth approximately $34,521,000. Finally, Point72 Asset Management L.P. boosted its position in shares of Louisiana-Pacific by 430.3% in the fourth quarter. Point72 Asset Management L.P. now owns 375,900 shares of the building manufacturing company’s stock worth $38,924,000 after acquiring an additional 305,021 shares during the last quarter. 94.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LPX has been the topic of several research analyst reports. Royal Bank Of Canada raised their target price on shares of Louisiana-Pacific from $114.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Loop Capital upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Wednesday, May 7th. DA Davidson cut their price target on shares of Louisiana-Pacific from $123.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, June 25th. Finally, Truist Financial cut their price target on shares of Louisiana-Pacific from $126.00 to $112.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $106.63.

Insider Buying and Selling at Louisiana-Pacific

In other news, Director Lizanne C. Gottung sold 1,179 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $89.52, for a total value of $105,544.08. Following the completion of the sale, the director owned 18,838 shares of the company’s stock, valued at approximately $1,686,377.76. The trade was a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.42% of the company’s stock.

Louisiana-Pacific Trading Down 1.0%

LPX opened at $91.70 on Friday. The firm has a market capitalization of $6.38 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.41 and a beta of 1.84. The firm’s 50 day moving average is $90.14 and its 200-day moving average is $96.87. Louisiana-Pacific Corporation has a 52-week low of $78.82 and a 52-week high of $122.87. The company has a quick ratio of 1.59, a current ratio of 3.03 and a debt-to-equity ratio of 0.21.

Louisiana-Pacific (NYSE:LPX) last posted its quarterly earnings data on Tuesday, May 6th. The building manufacturing company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.14. The company had revenue of $724.00 million for the quarter, compared to analyst estimates of $711.66 million. Louisiana-Pacific had a net margin of 13.74% and a return on equity of 23.75%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 earnings per share. Analysts expect that Louisiana-Pacific Corporation will post 5.27 EPS for the current fiscal year.

Louisiana-Pacific Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Tuesday, May 20th. Louisiana-Pacific’s dividend payout ratio is currently 19.65%.

Louisiana-Pacific Profile

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.