Louisiana-Pacific Co. (NYSE:LPX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its holdings in shares of Louisiana-Pacific Co. (NYSE:LPX) by 48.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,928 shares of the building manufacturing company’s stock after selling 20,012 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Louisiana-Pacific were worth $1,723,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LifeSteps Financial Inc. acquired a new stake in shares of Louisiana-Pacific during the first quarter valued at about $25,000. Fidelis Capital Partners LLC acquired a new stake in Louisiana-Pacific in the 1st quarter valued at approximately $25,000. Whittier Trust Co. acquired a new position in Louisiana-Pacific during the first quarter worth $31,000. Bessemer Group Inc. lifted its stake in Louisiana-Pacific by 258.5% during the first quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock worth $37,000 after purchasing an additional 318 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Louisiana-Pacific by 57.3% during the second quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock worth $40,000 after buying an additional 177 shares during the period. 94.73% of the stock is owned by institutional investors and hedge funds.

Louisiana-Pacific Trading Up 0.3 %

NYSE LPX opened at $106.81 on Wednesday. The firm’s fifty day moving average price is $95.83 and its 200 day moving average price is $87.56. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 0.60 and a beta of 1.88. Louisiana-Pacific Co. has a 12 month low of $49.47 and a 12 month high of $106.86. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.38 and a quick ratio of 1.95.

Louisiana-Pacific (NYSE:LPX) last announced its earnings results on Wednesday, August 7th. The building manufacturing company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.23. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. The business had revenue of $814.00 million during the quarter, compared to analysts’ expectations of $797.26 million. During the same period in the prior year, the company earned $0.55 earnings per share. The business’s revenue was up 33.2% compared to the same quarter last year. On average, sell-side analysts expect that Louisiana-Pacific Co. will post 5.05 earnings per share for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Tuesday, August 20th. Louisiana-Pacific’s payout ratio is 28.57%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial restated a “buy” rating and set a $105.00 target price (up from $101.00) on shares of Louisiana-Pacific in a report on Thursday, August 8th. Bank of America increased their target price on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the stock an “underperform” rating in a report on Thursday, September 12th. BMO Capital Markets downgraded shares of Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 price target for the company. in a research note on Thursday, August 8th. DA Davidson increased their price objective on Louisiana-Pacific from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Finally, The Goldman Sachs Group lifted their target price on Louisiana-Pacific from $78.00 to $86.00 and gave the company a “sell” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $92.67.

Insider Transactions at Louisiana-Pacific

In other Louisiana-Pacific news, Director Ozey K. Horton, Jr. sold 800 shares of Louisiana-Pacific stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $96.10, for a total value of $76,880.00. Following the sale, the director now owns 29,008 shares of the company’s stock, valued at approximately $2,787,668.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO William Bradley Southern sold 32,600 shares of Louisiana-Pacific stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total transaction of $3,046,144.00. Following the completion of the sale, the chief executive officer now directly owns 596,886 shares in the company, valued at approximately $55,773,027.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ozey K. Horton, Jr. sold 800 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $96.10, for a total value of $76,880.00. Following the completion of the sale, the director now owns 29,008 shares in the company, valued at approximately $2,787,668.80. The disclosure for this sale can be found here. Insiders have sold a total of 35,900 shares of company stock worth $3,368,774 over the last ninety days. 1.26% of the stock is currently owned by company insiders.

Louisiana-Pacific Company 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.