New York State Common Retirement Fund Purchases 243,409 Shares of Louisiana-Pacific Co. (NYSE:LPX)

New York State Common Retirement Fund increased its position in Louisiana-Pacific Co. (NYSE:LPX - Free Report) by 356.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 311,758 shares of the building manufacturing company's stock after buying an additional 243,409 shares during the quarter. New York State Common Retirement Fund owned about 0.43% of Louisiana-Pacific worth $22,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in LPX. Larson Financial Group LLC purchased a new position in shares of Louisiana-Pacific in the 3rd quarter worth $37,000. Signaturefd LLC raised its position in shares of Louisiana-Pacific by 232.9% in the 4th quarter. Signaturefd LLC now owns 789 shares of the building manufacturing company's stock worth $56,000 after buying an additional 552 shares during the period. Simplicity Solutions LLC purchased a new position in shares of Louisiana-Pacific in the 4th quarter worth $204,000. Raymond James Trust N.A. purchased a new position in shares of Louisiana-Pacific in the 4th quarter worth $206,000. Finally, Strategic Investment Advisors MI purchased a new position in shares of Louisiana-Pacific in the 3rd quarter worth $224,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Truist Financial increased their target price on Louisiana-Pacific from $75.00 to $82.00 and gave the stock a "buy" rating in a research report on Thursday, January 4th. DA Davidson reiterated a "buy" rating and issued a $76.00 price target on shares of Louisiana-Pacific in a report on Tuesday, February 13th. TD Cowen reiterated a "hold" rating and issued a $75.00 price target on shares of Louisiana-Pacific in a report on Thursday, January 11th. TD Securities increased their price target on Louisiana-Pacific from $75.00 to $77.00 and gave the company a "hold" rating in a report on Thursday, February 15th. Finally, Royal Bank of Canada increased their price target on Louisiana-Pacific from $80.00 to $82.00 and gave the company an "outperform" rating in a report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $73.71.

Insider Activity

In related news, Director Lizanne C. Gottung sold 2,500 shares of Louisiana-Pacific stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $77.58, for a total value of $193,950.00. Following the completion of the transaction, the director now directly owns 25,995 shares in the company, valued at $2,016,692.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.26% of the company's stock.

Louisiana-Pacific Stock Down 0.3 %

Shares of Louisiana-Pacific stock traded down $0.25 during trading hours on Friday, hitting $74.57. 844,088 shares of the company's stock traded hands, compared to its average volume of 868,888. The stock has a 50 day simple moving average of $76.62 and a 200-day simple moving average of $68.06. The company has a quick ratio of 1.54, a current ratio of 3.00 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.39 billion, a PE ratio of 30.44 and a beta of 1.84. Louisiana-Pacific Co. has a twelve month low of $49.47 and a twelve month high of $84.54.

Louisiana-Pacific (NYSE:LPX - Get Free Report) last announced its earnings results on Wednesday, February 14th. The building manufacturing company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.17. The company had revenue of $658.00 million during the quarter, compared to the consensus estimate of $618.60 million. Louisiana-Pacific had a return on equity of 15.65% and a net margin of 6.90%. The company's revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. Equities research analysts anticipate that Louisiana-Pacific Co. will post 4.89 earnings per share for the current fiscal year.

Louisiana-Pacific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from Louisiana-Pacific's previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 1.39%. Louisiana-Pacific's dividend payout ratio (DPR) is currently 42.45%.

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.