California Public Employees Retirement System Has $12.72 Million Holdings in Louisiana-Pacific Co. (NYSE:LPX)

California Public Employees Retirement System decreased its stake in Louisiana-Pacific Co. (NYSE:LPX) by 4.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 122,836 shares of the building manufacturing company’s stock after selling 6,284 shares during the period. California Public Employees Retirement System’s holdings in Louisiana-Pacific were worth $12,720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Miracle Mile Advisors LLC raised its position in shares of Louisiana-Pacific by 269.7% in the 4th quarter. Miracle Mile Advisors LLC now owns 41,698 shares of the building manufacturing company’s stock valued at $4,318,000 after acquiring an additional 30,418 shares during the period. Truist Financial Corp raised its holdings in Louisiana-Pacific by 47.3% in the fourth quarter. Truist Financial Corp now owns 9,751 shares of the building manufacturing company’s stock worth $1,010,000 after purchasing an additional 3,129 shares during the period. Symphony Financial Ltd. Co. acquired a new stake in Louisiana-Pacific in the fourth quarter worth $259,000. Victory Capital Management Inc. grew its holdings in shares of Louisiana-Pacific by 23.8% in the 4th quarter. Victory Capital Management Inc. now owns 167,439 shares of the building manufacturing company’s stock valued at $17,338,000 after buying an additional 32,210 shares during the period. Finally, New York Life Investment Management LLC acquired a new position in shares of Louisiana-Pacific in the 4th quarter valued at $699,000. Institutional investors own 94.73% of the company’s stock.

Louisiana-Pacific Price Performance

NYSE LPX opened at $86.08 on Friday. The firm’s 50 day moving average is $101.38 and its 200-day moving average is $106.21. The company has a quick ratio of 1.69, a current ratio of 2.86 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $6.00 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.24 and a beta of 2.02. Louisiana-Pacific Co. has a 12-month low of $71.39 and a 12-month high of $122.87.

Louisiana-Pacific (NYSE:LPX) last issued its quarterly earnings results on Wednesday, February 19th. The building manufacturing company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.24. Louisiana-Pacific had a net margin of 14.31% and a return on equity of 25.35%. The firm had revenue of $681.00 million for the quarter, compared to analyst estimates of $666.75 million. During the same period in the previous year, the business earned $0.71 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Louisiana-Pacific Co. will post 5.27 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.30%. The ex-dividend date was Thursday, February 27th. This is a positive change from Louisiana-Pacific’s previous quarterly dividend of $0.26. Louisiana-Pacific’s dividend payout ratio is presently 19.05%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Securities reduced their target price on Louisiana-Pacific from $123.00 to $117.00 and set a “hold” rating on the stock in a report on Thursday, February 20th. Truist Financial raised their price target on Louisiana-Pacific from $117.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Louisiana-Pacific in a research report on Thursday, February 20th. BMO Capital Markets raised their target price on shares of Louisiana-Pacific from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, February 20th. Finally, DA Davidson reduced their price target on shares of Louisiana-Pacific from $125.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $111.50.

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.