Teachers Retirement System of The State of Kentucky Lowers Holdings in Louisiana-Pacific Co. (NYSE:LPX)

Teachers Retirement System of The State of Kentucky trimmed its holdings in Louisiana-Pacific Co. (NYSE:LPX) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 45,656 shares of the building manufacturing company’s stock after selling 4,367 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.06% of Louisiana-Pacific worth $3,759,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LPX. LifeSteps Financial Inc. purchased a new stake in Louisiana-Pacific in the first quarter valued at $25,000. Fidelis Capital Partners LLC purchased a new stake in Louisiana-Pacific in the first quarter valued at $25,000. Whittier Trust Co. purchased a new stake in Louisiana-Pacific in the first quarter valued at $31,000. Bessemer Group Inc. boosted its holdings in Louisiana-Pacific by 258.5% in the first quarter. Bessemer Group Inc. now owns 441 shares of the building manufacturing company’s stock valued at $37,000 after purchasing an additional 318 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Louisiana-Pacific by 57.3% in the second quarter. GAMMA Investing LLC now owns 486 shares of the building manufacturing company’s stock valued at $40,000 after purchasing an additional 177 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.

Louisiana-Pacific Stock Down 1.3 %

LPX opened at $106.58 on Friday. The company has a market cap of $7.64 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 4.95 and a beta of 1.88. The company has a quick ratio of 1.95, a current ratio of 3.38 and a debt-to-equity ratio of 0.21. Louisiana-Pacific Co. has a twelve month low of $49.47 and a twelve month high of $109.73. The company has a 50-day moving average price of $97.85 and a 200 day moving average price of $88.75.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data 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. The company had revenue of $814.00 million during the quarter, compared to the consensus estimate of $797.26 million. Louisiana-Pacific had a net margin of 15.22% and a return on equity of 27.09%. Louisiana-Pacific’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. Sell-side analysts expect that Louisiana-Pacific Co. will post 5.04 earnings per share for the current fiscal year.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.04 dividend on an annualized basis and a yield of 0.98%. Louisiana-Pacific’s payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

LPX has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on shares of Louisiana-Pacific from $101.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Truist Financial reissued a “buy” rating and set a $105.00 target price (up from $101.00) on shares of Louisiana-Pacific in a research note on Thursday, August 8th. DA Davidson increased their target price on shares of Louisiana-Pacific from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. 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 research note on Thursday, September 12th. Finally, BMO Capital Markets lowered shares of Louisiana-Pacific from an “outperform” rating to a “market perform” rating and set a $99.00 target price on the stock. in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $92.67.

Insider Buying and Selling at Louisiana-Pacific

In other Louisiana-Pacific news, CEO William Bradley Southern sold 32,600 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $93.44, for a total value of $3,046,144.00. Following the completion of the sale, the chief executive officer now 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 can be accessed through this hyperlink. In other news, CEO William Bradley Southern sold 32,600 shares of the firm’s 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 owns 596,886 shares in the company, valued at approximately $55,773,027.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.30, for a total transaction of $245,750.00. Following the sale, the director now owns 21,005 shares of the company’s stock, valued at approximately $2,064,791.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,900 shares of company stock worth $3,368,774. Insiders own 1.26% of the company’s stock.

About Louisiana-Pacific

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.