New York State Teachers Retirement System Sells 6,047 Shares of Louisiana-Pacific Corporation $LPX

New York State Teachers Retirement System lowered its stake in Louisiana-Pacific Corporation (NYSE:LPX) by 8.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,732 shares of the building manufacturing company’s stock after selling 6,047 shares during the quarter. New York State Teachers Retirement System’s holdings in Louisiana-Pacific were worth $5,928,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Chung Wu Investment Group LLC bought a new position in shares of Louisiana-Pacific during the 2nd quarter valued at $26,000. North Ridge Wealth Advisors Inc. purchased a new stake in Louisiana-Pacific during the second quarter valued at $26,000. Mid American Wealth Advisory Group Inc. bought a new position in Louisiana-Pacific in the second quarter valued at about $34,000. RMG Wealth Management LLC purchased a new position in Louisiana-Pacific in the second quarter worth about $44,000. Finally, Beacon Capital Management LLC grew its stake in shares of Louisiana-Pacific by 570.6% during the 2nd quarter. Beacon Capital Management LLC now owns 684 shares of the building manufacturing company’s stock valued at $59,000 after purchasing an additional 582 shares during the period. 94.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO William Bradley Southern sold 55,346 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $91.66, for a total value of $5,073,014.36. Following the completion of the transaction, the chief executive officer owned 503,381 shares of the company’s stock, valued at $46,139,902.46. This represents a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen E. Macadam bought 3,200 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $78.06 per share, with a total value of $249,792.00. Following the transaction, the director directly owned 41,149 shares of the company’s stock, valued at $3,212,090.94. This represents a 8.43% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 113,344 shares of company stock worth $10,170,949 over the last 90 days. Company insiders own 1.42% of the company’s stock.

Louisiana-Pacific Stock Performance

LPX opened at $93.23 on Friday. The company has a 50 day simple moving average of $82.70 and a two-hundred day simple moving average of $88.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.93 and a quick ratio of 1.72. The firm has a market cap of $6.49 billion, a P/E ratio of 30.17 and a beta of 1.80. Louisiana-Pacific Corporation has a 1-year low of $73.42 and a 1-year high of $119.91.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Wednesday, November 5th. The building manufacturing company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Louisiana-Pacific had a net margin of 7.69% and a return on equity of 14.90%. The firm had revenue of $663.00 million for the quarter, compared to the consensus estimate of $670.26 million. During the same quarter in the previous year, the business earned $1.22 earnings per share. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. Equities analysts forecast that Louisiana-Pacific Corporation will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, November 14th. Louisiana-Pacific’s payout ratio is presently 36.25%.

Analyst Ratings Changes

LPX has been the topic of several recent research reports. DA Davidson reiterated a “buy” rating and issued a $117.00 price objective on shares of Louisiana-Pacific in a research note on Thursday, November 20th. TD Securities reduced their target price on shares of Louisiana-Pacific from $97.00 to $91.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Barclays lifted their price target on shares of Louisiana-Pacific from $100.00 to $108.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial upped their price objective on Louisiana-Pacific from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Vertical Research assumed coverage on Louisiana-Pacific in a report on Monday, October 20th. They issued a “buy” rating on the stock. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $106.57.

Louisiana-Pacific Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.