South Dakota Investment Council Increases Stock Position in Louisiana-Pacific Corporation $LPX

South Dakota Investment Council boosted its holdings in Louisiana-Pacific Corporation (NYSE:LPX) by 351.5% in the 1st quarter, Holdings Channel reports. The firm owned 97,832 shares of the building manufacturing company’s stock after purchasing an additional 76,165 shares during the period. South Dakota Investment Council’s holdings in Louisiana-Pacific were worth $7,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Amundi grew its position in Louisiana-Pacific by 311.0% during the 1st quarter. Amundi now owns 85,466 shares of the building manufacturing company’s stock worth $6,218,000 after purchasing an additional 64,671 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Louisiana-Pacific by 26.0% during the first quarter. EverSource Wealth Advisors LLC now owns 692 shares of the building manufacturing company’s stock worth $50,000 after buying an additional 143 shares during the period. California State Teachers Retirement System grew its holdings in shares of Louisiana-Pacific by 24.1% during the first quarter. California State Teachers Retirement System now owns 72,769 shares of the building manufacturing company’s stock worth $5,294,000 after buying an additional 14,108 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Louisiana-Pacific by 1.1% during the first quarter. Royal Bank of Canada now owns 79,718 shares of the building manufacturing company’s stock worth $5,800,000 after buying an additional 906 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in Louisiana-Pacific by 47.8% in the 1st quarter. Quantinno Capital Management LP now owns 24,605 shares of the building manufacturing company’s stock valued at $1,790,000 after acquiring an additional 7,962 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. TD increased their price objective on Louisiana-Pacific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. TD Securities upgraded Louisiana-Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, May 7th. Truist Financial decreased their price target on Louisiana-Pacific from $93.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 15th. DA Davidson reissued a “buy” rating and issued a $114.00 price objective on shares of Louisiana-Pacific in a research note on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Louisiana-Pacific from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Louisiana-Pacific has an average rating of “Moderate Buy” and a consensus target price of $97.80.

Louisiana-Pacific Stock Performance

NYSE:LPX opened at $71.99 on Friday. The firm’s fifty day simple moving average is $74.92 and its 200-day simple moving average is $78.28. The company has a quick ratio of 1.48, a current ratio of 3.26 and a debt-to-equity ratio of 0.20. The stock has a market cap of $5.03 billion, a PE ratio of 61.01, a price-to-earnings-growth ratio of 2.32 and a beta of 1.60. Louisiana-Pacific Corporation has a fifty-two week low of $66.12 and a fifty-two week high of $102.86.

Louisiana-Pacific (NYSE:LPX) last released its quarterly earnings data on Wednesday, May 6th. The building manufacturing company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.24. Louisiana-Pacific had a net margin of 3.20% and a return on equity of 7.03%. The firm had revenue of $574.00 million for the quarter, compared to the consensus estimate of $569.99 million. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The firm’s revenue was down 20.7% on a year-over-year basis. Analysts expect that Louisiana-Pacific Corporation will post 1.93 earnings per share for the current fiscal year.

Louisiana-Pacific Profile

Louisiana-Pacific Corporation (NYSE: LPX) is a leading manufacturer of building materials and engineered wood products for residential, industrial and light commercial construction. The company produces a diverse portfolio of products, including oriented strand board (OSB), engineered wood siding, trim, molding, sheathing panels and subflooring. Its flagship product lines, such as LP® SmartSide® trim and siding, are designed to offer enhanced durability, moisture resistance and ease of installation, helping builders and homeowners achieve long-lasting performance in a variety of climates.

Founded in 1973 as a spin-off from Georgia-Pacific, Louisiana-Pacific established its reputation by pioneering innovative manufacturing techniques for OSB, becoming one of the first companies to bring the product to market in the 1980s.