New York State Common Retirement Fund Boosts Stock Holdings in Louisiana-Pacific Corporation $LPX

New York State Common Retirement Fund boosted its position in Louisiana-Pacific Corporation (NYSE:LPX) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 196,674 shares of the building manufacturing company’s stock after purchasing an additional 12,630 shares during the period. New York State Common Retirement Fund owned about 0.28% of Louisiana-Pacific worth $16,912,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. 59 North Capital Management LP lifted its holdings in shares of Louisiana-Pacific by 32.1% in the 1st quarter. 59 North Capital Management LP now owns 2,618,643 shares of the building manufacturing company’s stock valued at $240,863,000 after buying an additional 635,817 shares during the period. Valeo Financial Advisors LLC raised its position in Louisiana-Pacific by 33,243.5% in the second quarter. Valeo Financial Advisors LLC now owns 2,588,787 shares of the building manufacturing company’s stock worth $222,610,000 after acquiring an additional 2,581,023 shares in the last quarter. Eminence Capital LP raised its position in Louisiana-Pacific by 16.0% in the first quarter. Eminence Capital LP now owns 1,675,943 shares of the building manufacturing company’s stock worth $154,153,000 after acquiring an additional 230,837 shares in the last quarter. Palestra Capital Management LLC lifted its holdings in Louisiana-Pacific by 173.5% in the first quarter. Palestra Capital Management LLC now owns 911,621 shares of the building manufacturing company’s stock valued at $83,851,000 after acquiring an additional 578,248 shares during the period. Finally, Norges Bank purchased a new stake in shares of Louisiana-Pacific during the 2nd quarter worth $72,299,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

Wall Street Analysts Forecast Growth

LPX has been the subject of a number of research analyst reports. DA Davidson reiterated a “buy” rating and issued a $117.00 price target on shares of Louisiana-Pacific in a report on Thursday, November 20th. Royal Bank Of Canada lowered their target price on shares of Louisiana-Pacific from $114.00 to $104.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Zacks Research downgraded shares of Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Louisiana-Pacific in a research note on Wednesday, October 8th. Finally, TD Securities lowered their price target on Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating on the stock in a report on Thursday, November 6th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $106.33.

Insider Activity at Louisiana-Pacific

In other news, Director Stephen E. Macadam bought 3,200 shares of Louisiana-Pacific stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $78.06 per share, for a total transaction of $249,792.00. Following the acquisition, the director owned 41,149 shares in the company, valued at approximately $3,212,090.94. This trade represents a 8.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.42% of the stock is currently owned by insiders.

Louisiana-Pacific Stock Down 0.3%

Shares of NYSE LPX opened at $81.78 on Wednesday. The firm’s 50-day moving average is $84.81 and its two-hundred day moving average is $89.42. The company has a market capitalization of $5.70 billion, a PE ratio of 19.29 and a beta of 1.80. Louisiana-Pacific Corporation has a 12-month low of $73.42 and a 12-month high of $121.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.84 and a quick ratio of 1.67.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings data 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). Louisiana-Pacific had a return on equity of 18.67% and a net margin of 10.34%.The company had revenue of $663.00 million for the quarter, compared to analyst estimates of $670.26 million. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. Equities analysts anticipate 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 Friday, November 21st. Investors of record on Friday, November 14th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 36.25%.

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.