TIAA CREF Investment Management LLC trimmed its position in Louisiana-Pacific Co. (NYSE:LPX) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,858,025 shares of the construction company’s stock after selling 132,150 shares during the period. TIAA CREF Investment Management LLC owned 1.28% of Louisiana-Pacific worth $48,792,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of LPX. MANA Advisors LLC purchased a new stake in shares of Louisiana-Pacific in the fourth quarter worth $209,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Louisiana-Pacific by 43.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,172 shares of the construction company’s stock worth $215,000 after acquiring an additional 2,481 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Louisiana-Pacific in the fourth quarter worth $225,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Louisiana-Pacific in the third quarter worth $255,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Louisiana-Pacific in the third quarter worth $265,000. 94.60% of the stock is currently owned by institutional investors.
Shares of Louisiana-Pacific stock opened at $29.01 on Thursday. The company has a current ratio of 5.03, a quick ratio of 4.07 and a debt-to-equity ratio of 0.22. Louisiana-Pacific Co. has a 12-month low of $22.07 and a 12-month high of $31.07. The company has a market capitalization of $4,181.80, a price-to-earnings ratio of 10.87, a P/E/G ratio of 2.20 and a beta of 1.58.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Investors of record on Monday, February 26th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. Louisiana-Pacific’s dividend payout ratio (DPR) is presently 19.48%.
In related news, Director Gary Cook sold 5,000 shares of the stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $28.58, for a total transaction of $142,900.00. Following the sale, the director now directly owns 50,026 shares of the company’s stock, valued at $1,429,743.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Neil Sherman sold 18,885 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $30.04, for a total value of $567,305.40. Following the sale, the executive vice president now directly owns 62,770 shares in the company, valued at $1,885,610.80. The disclosure for this sale can be found here. Company insiders own 1.48% of the company’s stock.
A number of research firms have recently commented on LPX. Seaport Global Securities began coverage on Louisiana-Pacific in a research note on Thursday, March 15th. They issued a “buy” rating and a $37.00 target price on the stock. BMO Capital Markets set a $25.00 target price on Louisiana-Pacific and gave the stock a “sell” rating in a research note on Tuesday, February 13th. Stephens set a $32.00 target price on Louisiana-Pacific and gave the stock a “hold” rating in a research note on Tuesday, February 13th. DA Davidson increased their target price on Louisiana-Pacific to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Scotiabank increased their target price on Louisiana-Pacific from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $31.50.
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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