Strs Ohio reduced its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 74.3% in the first quarter, Holdings Channel reports. The firm owned 16,000 shares of the building manufacturing company’s stock after selling 46,200 shares during the period. Strs Ohio’s holdings in Louisiana-Pacific were worth $390,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Louisiana-Pacific in the fourth quarter valued at about $52,903,000. Ceredex Value Advisors LLC purchased a new stake in Louisiana-Pacific in the fourth quarter valued at about $34,060,000. Oregon Public Employees Retirement Fund raised its stake in 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 valued at $57,000 after buying an additional 1,211,238 shares during the last quarter. Millennium Management LLC raised its stake in 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 valued at $59,855,000 after buying an additional 1,115,786 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in Louisiana-Pacific by 28.8% in the fourth quarter. APG Asset Management N.V. now owns 2,711,900 shares of the building manufacturing company’s stock valued at $52,713,000 after buying an additional 605,800 shares during the last quarter. Hedge funds and other institutional investors own 89.44% of the company’s stock.
A number of research firms have commented on LPX. TD Securities increased their price target on Louisiana-Pacific from $25.00 to $29.00 and gave the company a “hold” rating in a research note on Thursday, February 14th. Zacks Investment Research cut Louisiana-Pacific from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 21st. ValuEngine upgraded Louisiana-Pacific from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Bank of America upgraded Louisiana-Pacific from a “neutral” rating to a “buy” rating and set a $24.75 price target for the company in a research note on Tuesday, April 30th. Finally, Stephens upgraded Louisiana-Pacific from an “equal weight” rating to an “overweight” rating and set a $32.00 price target for the company in a research note on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $28.13.
Shares of NYSE:LPX opened at $24.91 on Friday. Louisiana-Pacific Co. has a 52-week low of $20.39 and a 52-week high of $32.16. The stock has a market capitalization of $3.04 billion, a PE ratio of 9.09, a PEG ratio of 2.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.92 and a quick ratio of 3.88.
Louisiana-Pacific (NYSE:LPX) last announced its quarterly earnings data on Tuesday, May 7th. The building manufacturing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). Louisiana-Pacific had a return on equity of 22.87% and a net margin of 13.95%. The firm had revenue of $582.00 million during the quarter, compared to analysts’ expectations of $601.49 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down 15.8% compared to the same quarter last year. As a group, equities analysts predict that Louisiana-Pacific Co. will post 1.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Tuesday, May 21st will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a yield of 2.17%. The ex-dividend date is Monday, May 20th. Louisiana-Pacific’s dividend payout ratio (DPR) 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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