California Public Employees Retirement System Sells 32,216 Shares of Louisiana-Pacific Corporation $LPX

California Public Employees Retirement System lessened its stake in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 25.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 93,457 shares of the building manufacturing company’s stock after selling 32,216 shares during the quarter. California Public Employees Retirement System’s holdings in Louisiana-Pacific were worth $6,799,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LPX. Geode Capital Management LLC grew its position in Louisiana-Pacific by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,160,434 shares of the building manufacturing company’s stock worth $93,735,000 after acquiring an additional 18,287 shares during the last quarter. Tudor Investment Corp ET AL bought a new position in Louisiana-Pacific in the third quarter valued at about $14,285,000. Jefferies Financial Group Inc. bought a new position in Louisiana-Pacific in the fourth quarter valued at about $14,472,000. Thrivent Financial for Lutherans boosted its stake in shares of Louisiana-Pacific by 2,547.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 385,416 shares of the building manufacturing company’s stock valued at $31,126,000 after purchasing an additional 370,856 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Louisiana-Pacific during the fourth quarter valued at about $60,184,000. 94.73% of the stock is currently owned by institutional investors and hedge funds.

Louisiana-Pacific Stock Performance

NYSE:LPX opened at $74.72 on Monday. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20. Louisiana-Pacific Corporation has a twelve month low of $66.12 and a twelve month high of $102.86. The company has a fifty day moving average of $74.55 and a 200-day moving average of $78.60. The firm has a market capitalization of $5.22 billion, a P/E ratio of 63.32, a P/E/G ratio of 2.34 and a beta of 1.60.

Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings results on Wednesday, May 6th. The building manufacturing company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.24. Louisiana-Pacific had a return on equity of 7.03% and a net margin of 3.20%.The business had revenue of $574.00 million for the quarter, compared to analyst estimates of $569.99 million. During the same quarter in the prior year, the company earned $1.27 earnings per share. The company’s quarterly revenue was down 20.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Louisiana-Pacific Corporation will post 1.93 EPS for the current year.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 14th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.6%. Louisiana-Pacific’s dividend payout ratio is presently 101.69%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial decreased their price target on shares of Louisiana-Pacific from $93.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Jefferies Financial Group initiated coverage on shares of Louisiana-Pacific in a report on Tuesday, June 23rd. They set a “buy” rating and a $93.00 price target on the stock. Barclays boosted their price objective on shares of Louisiana-Pacific from $89.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. BMO Capital Markets upgraded Louisiana-Pacific from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a report on Thursday, May 7th. Finally, Bank of America raised their target price on Louisiana-Pacific from $85.00 to $101.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.80.

Louisiana-Pacific Company 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.