California Public Employees Retirement System lifted its stake in Louisiana-Pacific Co. (NYSE:LPX) by 6.9% during the first quarter, Holdings Channel reports. The institutional investor owned 470,319 shares of the building manufacturing company’s stock after acquiring an additional 30,324 shares during the quarter. California Public Employees Retirement System’s holdings in Louisiana-Pacific were worth $11,466,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of LPX. Norges Bank purchased a new stake in shares of Louisiana-Pacific in the fourth quarter worth about $52,903,000. Ceredex Value Advisors LLC purchased a new stake in shares of Louisiana-Pacific in the fourth quarter worth about $34,060,000. Victory Capital Management Inc. purchased a new stake in shares of Louisiana-Pacific in the first quarter worth about $34,631,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Louisiana-Pacific by 2,122.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,268,318 shares of the building manufacturing company’s stock worth $57,000 after buying an additional 1,211,238 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Louisiana-Pacific by 70.7% in the fourth quarter. Millennium Management LLC now owns 2,693,753 shares of the building manufacturing company’s stock worth $59,855,000 after buying an additional 1,115,786 shares during the last quarter. Hedge funds and other institutional investors own 89.44% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Louisiana-Pacific from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Longbow Research upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Monday. TD Securities lowered their target price on Louisiana-Pacific from $27.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. ValuEngine upgraded Louisiana-Pacific from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Bank of America upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $24.75 target price on the stock in a research note on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $28.68.
In related news, Director Gary Cook sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $24.76, for a total value of $99,040.00. Following the completion of the transaction, the director now owns 52,139 shares of the company’s stock, valued at approximately $1,290,961.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.
NYSE LPX opened at $23.36 on Thursday. The stock has a market capitalization of $2.92 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 3.21 and a beta of 1.37. Louisiana-Pacific Co. has a twelve month low of $20.39 and a twelve month high of $32.16. The company has a quick ratio of 2.25, a current ratio of 3.55 and a debt-to-equity ratio of 0.28.
Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings results on Tuesday, May 7th. The building manufacturing company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). The business had revenue of $582.00 million during the quarter, compared to analyst estimates of $601.49 million. Louisiana-Pacific had a return on equity of 19.63% and a net margin of 12.16%. The business’s revenue for the quarter was down 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. As a group, equities research analysts expect that Louisiana-Pacific Co. will post 1.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Tuesday, May 21st will be issued a $0.135 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.54 dividend on an annualized basis and a yield of 2.31%. Louisiana-Pacific’s payout ratio is 19.71%.
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Louisiana-Pacific Corporation, together with its subsidiaries, manufactures building products primarily for use in new home construction, repair and remodeling, and outdoor structure markets. It also markets and sells products for use in light industrial and commercial construction applications. It operates through four segments: Siding; North America Oriented Strand Board (OSB); Engineered Wood Products; and South America.
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