Wed Sep 25 07:24:52 UTC 2024: ## State of New Jersey Pension Fund Cuts Louisiana-Pacific Holdings
**[City, State] -** The State of New Jersey Common Pension Fund D has reduced its stake in Louisiana-Pacific Co. (NYSE:LPX), a leading building materials manufacturer, by 48.9% in the second quarter, according to a recent SEC filing.
The fund now holds 20,928 shares of LPX, valued at $1,723,000, after selling 20,012 shares during the quarter. This move comes as several other institutional investors have adjusted their holdings in LPX, with some increasing their positions and others taking new stakes.
The news follows a period of mixed performance for LPX, with the company’s stock price currently trading at $106.81. Despite a 12-month high of $106.86, the stock has a debt-to-equity ratio of 0.21 and a payout ratio of 28.57%.
The company recently announced a quarterly dividend of $0.26, representing an annualized dividend of $1.04 and a yield of 0.97%.
Analysts have differing opinions on LPX’s future prospects. While Truist Financial and DA Davidson have maintained “buy” ratings, Bank of America has issued an “underperform” rating.
Louisiana-Pacific Corporation provides building solutions for new home construction, repair and remodeling, and outdoor structure markets.
**Insider Trading:** Several insiders have recently sold shares of LPX. Director Ozey K. Horton, Jr. sold 800 shares on August 9th, while CEO William Bradley Southern sold 32,600 shares on August 21st.
Overall, the pension fund’s decision to reduce its LPX holdings suggests a cautious approach towards the company’s future performance.
First Piper 