The New York State Common Retirement Fund Increases Holdings in Louisiana-Pacific Corporation (NYSE:LPX)

The New York State Common Retirement Fund Increases Holdings in Louisiana-Pacific Corporation (NYSE:LPX)

New York State Common Retirement Fund raised its holdings in shares of Louisiana-Pacific Corporation (NYSE:LPX) by 85.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 515,751 shares of the construction company’s stock after purchasing an additional 238,345 shares during the period. New York State Common Retirement Fund owned 0.36% of Louisiana-Pacific Corporation worth $12,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Russell Investments Group Ltd. grew its position in shares of Louisiana-Pacific Corporation by 83.2% in the 1st quarter. Russell Investments Group Ltd. now owns 104,974 shares of the construction company’s stock worth $2,605,000 after buying an additional 47,666 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Louisiana-Pacific Corporation by 2.0% in the 1st quarter. Wells Fargo & Company MN now owns 198,304 shares of the construction company’s stock worth $4,922,000 after buying an additional 3,977 shares during the last quarter. First Trust Advisors LP grew its position in shares of Louisiana-Pacific Corporation by 9.0% in the 1st quarter. First Trust Advisors LP now owns 121,736 shares of the construction company’s stock worth $3,021,000 after buying an additional 10,099 shares during the last quarter. World Asset Management Inc purchased a new position in shares of Louisiana-Pacific Corporation in the 1st quarter worth approximately $222,000. Finally, UBS Asset Management Americas Inc. grew its position in shares of Louisiana-Pacific Corporation by 127.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 182,099 shares of the construction company’s stock worth $4,520,000 after buying an additional 102,065 shares during the last quarter. 91.10% of the stock is currently owned by institutional investors and hedge funds.

In other Louisiana-Pacific Corporation news, insider Rebecca Anne Barckley sold 5,128 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $27.00, for a total value of $138,456.00. Following the transaction, the insider now directly owns 7,305 shares of the company’s stock, valued at approximately $197,235. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael Sims sold 5,871 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $27.06, for a total value of $158,869.26. Following the completion of the transaction, the senior vice president now directly owns 41,523 shares in the company, valued at $1,123,612.38. The disclosure for this sale can be found here. Corporate insiders own 1.48% of the company’s stock.

Shares of Louisiana-Pacific Corporation (LPX) opened at 28.32 on Friday. The stock has a market cap of $4.10 billion, a price-to-earnings ratio of 16.13 and a beta of 1.31. The company has a 50-day moving average of $27.27 and a 200 day moving average of $25.13. Louisiana-Pacific Corporation has a one year low of $17.08 and a one year high of $29.44.

Louisiana-Pacific Corporation (NYSE:LPX) last announced its quarterly earnings data on Tuesday, August 1st. The construction company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.03). The business had revenue of $694.00 million during the quarter, compared to analysts’ expectations of $700.73 million. Louisiana-Pacific Corporation had a return on equity of 17.13% and a net margin of 10.50%. The firm’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. On average, equities analysts forecast that Louisiana-Pacific Corporation will post $2.13 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on LPX shares. BidaskClub raised shares of Louisiana-Pacific Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised shares of Louisiana-Pacific Corporation from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Tuesday, July 11th. BMO Capital Markets reissued a “hold” rating and set a $22.00 target price on shares of Louisiana-Pacific Corporation in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $32.00 price objective on shares of Louisiana-Pacific Corporation in a research note on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Louisiana-Pacific Corporation has an average rating of “Hold” and a consensus price target of $28.40.

Louisiana-Pacific Corporation Profile

Louisiana-Pacific Corporation is a manufacturer of building products. The Company’s products are used in home construction, repair and remodeling, and outdoor structures. The Company operates in four segments, which include North America Oriented Strand Board (OSB), Siding, Engineered Wood Products (EWP) and South America.

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