Retirement Systems of Alabama Lowers Position in Louisiana-Pacific Co. (NYSE:LPX)

Retirement Systems of Alabama decreased its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,978 shares of the building manufacturing company’s stock after selling 2,753 shares during the period. Retirement Systems of Alabama’s holdings in Louisiana-Pacific were worth $8,165,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new position in Louisiana-Pacific during the 3rd quarter worth $38,000. V Square Quantitative Management LLC bought a new position in shares of Louisiana-Pacific during the third quarter valued at about $43,000. Covestor Ltd boosted its holdings in Louisiana-Pacific by 61.0% during the third quarter. Covestor Ltd now owns 430 shares of the building manufacturing company’s stock worth $46,000 after purchasing an additional 163 shares during the last quarter. First Horizon Advisors Inc. grew its position in Louisiana-Pacific by 77.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the building manufacturing company’s stock worth $50,000 after purchasing an additional 201 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Louisiana-Pacific in the 2nd quarter valued at about $53,000. Institutional investors own 94.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LPX shares. DA Davidson boosted their target price on Louisiana-Pacific from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group upped their price objective on Louisiana-Pacific from $90.00 to $99.00 and gave the company a “sell” rating in a research note on Wednesday, November 6th. Truist Financial lifted their target price on Louisiana-Pacific from $105.00 to $113.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Bank of America raised their price objective 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. Finally, Royal Bank of Canada lifted their price objective on shares of Louisiana-Pacific from $119.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $102.22.

Insider Activity at Louisiana-Pacific

In related news, Director Ozey K. Horton, Jr. sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $113.41, for a total transaction of $34,023.00. Following the sale, the director now owns 28,638 shares of the company’s stock, valued at approximately $3,247,835.58. This represents a 1.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lizanne C. Gottung sold 2,500 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $113.50, for a total transaction of $283,750.00. Following the completion of the transaction, the director now directly owns 18,513 shares of the company’s stock, valued at approximately $2,101,225.50. The trade was a 11.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Louisiana-Pacific Price Performance

NYSE LPX opened at $110.65 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 2.92 and a debt-to-equity ratio of 0.21. The company has a market cap of $7.77 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 2.82 and a beta of 1.91. Louisiana-Pacific Co. has a 52 week low of $63.76 and a 52 week high of $122.87. The firm’s 50-day simple moving average is $109.88 and its two-hundred day simple moving average is $99.39.

Louisiana-Pacific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a yield of 0.94%. Louisiana-Pacific’s dividend payout ratio is 17.93%.

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.