Retirement Systems of Alabama increased its holdings in Louisiana-Pacific Co. (NYSE:LPX – Free Report) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,596 shares of the building manufacturing company’s stock after buying an additional 220 shares during the quarter. Retirement Systems of Alabama owned 0.11% of Louisiana-Pacific worth $6,763,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LPX. Channing Capital Management LLC purchased a new position in Louisiana-Pacific during the fourth quarter valued at approximately $73,662,000. Norges Bank purchased a new position in Louisiana-Pacific during the fourth quarter valued at approximately $53,186,000. Balyasny Asset Management L.P. lifted its holdings in Louisiana-Pacific by 16,827.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 717,059 shares of the building manufacturing company’s stock valued at $50,789,000 after purchasing an additional 712,823 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Louisiana-Pacific by 83.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,563,117 shares of the building manufacturing company’s stock worth $110,717,000 after buying an additional 712,671 shares in the last quarter. Finally, Eminence Capital LP lifted its holdings in shares of Louisiana-Pacific by 31.4% in the fourth quarter. Eminence Capital LP now owns 2,056,991 shares of the building manufacturing company’s stock worth $145,697,000 after buying an additional 491,641 shares in the last quarter. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LPX shares. DA Davidson boosted their target price on shares of Louisiana-Pacific from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, June 14th. The Goldman Sachs Group downgraded shares of Louisiana-Pacific from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $89.00 to $81.00 in a report on Monday, June 17th. StockNews.com upgraded shares of Louisiana-Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Seaport Res Ptn cut shares of Louisiana-Pacific from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. Finally, Royal Bank of Canada boosted their price objective on shares of Louisiana-Pacific from $88.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Louisiana-Pacific presently has a consensus rating of “Hold” and an average price target of $87.11.

Read Our Latest Stock Analysis on Louisiana-Pacific

Louisiana-Pacific Stock Down 3.5 %

NYSE:LPX opened at $80.23 on Friday. The company has a 50-day moving average of $86.30 and a 200 day moving average of $77.54. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.32 and a quick ratio of 1.75. The firm has a market cap of $5.75 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 10.79 and a beta of 1.89. Louisiana-Pacific Co. has a 1-year low of $49.47 and a 1-year high of $95.70.

Louisiana-Pacific (NYSE:LPX – Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The building manufacturing company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.40. Louisiana-Pacific had a return on equity of 20.87% and a net margin of 9.74%. The company had revenue of $724.00 million for the quarter, compared to analyst estimates of $686.84 million. During the same quarter last year, the firm posted $0.34 EPS. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. As a group, research analysts anticipate that Louisiana-Pacific Co. will post 5.79 EPS for the current fiscal year.

Louisiana-Pacific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $1.04 annualized dividend and a dividend yield of 1.30%. Louisiana-Pacific’s dividend payout ratio is presently 28.57%.

Insider Buying and Selling

In related news, Director Lizanne C. Gottung sold 3,591 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $89.18, for a total transaction of $320,245.38. Following the completion of the sale, the director now directly owns 23,501 shares of the company’s stock, valued at approximately $2,095,819.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.53% of the company’s stock.

About Louisiana-Pacific

(Free Report)

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.

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Yes, there is a house in New Orleans and while it may have been the ruin of many a poor boy, it was a staple of my childhood.

The 1964 hit The House Of The Rising Sun is my mam’s party piece, her contribution to the singsong, and I probably knew every word of it before I ever heard The Animals’ version.

It’s a bit of a chicken and egg situation – she’s not entirely sure if her fascination with the song stemmed from her infatuation with the place, or vice versa, but the Louisiana city has always been on her bucket list. As she celebrated a roundy birthday this year, I thought it was about time we ticked it off.

A nine-hour flight to Charlotte followed by a two-hour flight to Louis Armstrong Airport and we are in the heart of the Big Easy’s annual Jazz Festival. Second only to Mardi Gras in terms of entertainment, the festival this year drew 500,000 people.

We pull up to the Monteleone Hotel, right in the centre of the French Quarter, a short stroll from Bourbon Street. As we get out and sort out our luggage, the porter Thomas asks where we’ve flown from, then tells us he’s ‘half Murphy’.

‘So’s my mam,’ I tell him, and a firm friendship is formed, with Thomas looking out for us for the rest of the trip with recommendations and advice. It’s our first taste of the southern hospitality we find everywhere.

Known as the grand dame of Royal Street, the hotel is one of the last family-owned and operated hotels in New Orleans – since 1886, five generations of Monteleones have run the hotel.

The Carousel Bar is one of New Orleans’ most famous and, handily enough, it’s right in the Monteleone itself, so we decide to make it our first stop. It’s 10pm on a Wednesday and the bar is absolutely hopping.

The Jazz Festival – which takes place at the Fair Grounds Racecourse and has 13 stages – attracts a huge number of bands. But as the festival only runs until 7pm, many of the acts then arrange shows in hotels and bars around the city at night. This means you get to see really high quality entertainment in easily accessible venues.

When we get to the Carousel, Lena Prima has the crowd in the palm of her hand. The daughter of the great blues star Louis Prima, she has certainly inherited her dad’s ability to entertain. The atmosphere is fizzing.

Built in 1949, the Carousel Bar is built to look like its namesake. Intricately designed and beautifully lit, it’s not just decorated to look like the fairground ride, it actually moves like one too – a 15-minute rotation to be exact. So if you leave to go to the bathroom, don’t panic when you return and find your seat has moved to the other side. It’s a simple but effective gimmick – every seat at the bar is full for our entire five-day stay.

Thankfully it’s just a small part of a bigger lounge and as we listen to Lena’s dulcet tones, we chat to fellow guests, many of whom are also in town for the Jazz Fest, which takes place across two long weekends. Not confined to the big event, jazz is everywhere. We go for breakfast on our first morning and there’s a musician on the street outside at 9am.

Jazz music is everywhere

Several times we stroll down Bourbon Street and it streams from every bar, no matter the time of day or night. Go into one of the French Quarter’s many voodoo shops or vintage boutiques and you’ll hear it there too.

We go to brunch and there’s a jazz trio serenading guests table by table. At night, every bar and restaurant has live music in some form. Street markets have a lively soundtrack and buskers are of a very high quality.

It’s very much a walkable city – in five days we only get an Uber for one trip and a bus for another. We take a horse and carriage tour of the French Quarter, a good way to get your bearings. Similar to many US cities, the grid system is easy to follow.

Our very entertaining guide points out Saint Louis Cathedral, Jackson Square, Napoleon House, the French Market and Bourbon Street – many of which we return to, to explore further.

He also shows us the balcony on which Elvis Presley sings in King Creole and where much of Interview With A Vampire was filmed and tells us some of the many fascinating voodoo stories that the area is famous for.

Jazz Fest

We meet visitors from all over the US, most of whom are here for the Jazz Fest, which has a huge range of acts on offer, from small local groups to huge stars. This year’s line-up included Hozier, the Rolling Stones, Neil Young, Earth, Wind & Fire, Heart, The Beach Boys, Queen Latifah, Foo Fighters and The Killers.

The racecourse is about a 20-minute drive from downtown and there is a constant stream of coaches and local school buses making the round trip. It’s incredibly well organised. We arrive at a huge stage, with a band already in full flow. The crowd is enthusiastic and there’s a real buzz around the many food and drink stalls available.

Trying to get our bearings, we take a walk and are amazed to discover this is not the main stage, despite its vast size. We pass dozens of food vendors and several more smaller stages before getting to the headline stage. It’s a vast setting.

We flit from stage to stage, taking in the many acts on offer. As well as the big arenas, there are smaller tents – the gospel tent is an uplifting experience – and sometimes bands just strike up a tune right where they stand and weave their way through the crowds.

There are a number of arts and crafts stalls too, divided into several groups that capture the melting pot of the area. Louisiana Marketplace displays traditional and contemporary local works, including woven baskets, jewellery, wall hangings, pottery, musical instruments and photographs.

In Heritage Square, there’s contemporary crafts like clothing, accessories, pottery, books, ornaments and sculptures.

In Congo Square and the African Marketplace, there is art and crafts from around the African diaspora, while the Louisiana Folklife Village and the Native American Village celebrate the state’s rich heritage with songs, dancing, crafts and exhibits.

Mardi Gras Indians are rooted in the culture of New Orleans and you can watch them make intricate masks and outfits with hand-sewn beads, or chat to them about their history and ongoing struggles for recognition and equality.

There is a daily ‘powwow’ performance, involving a mix of tribes performing ritual dances, such as traditional, fancy shawl, straight dance, grass dance, jingle, hoop, southern cloth and stomp dance – be sure to catch it.

This area is also where you’ll find the best crawfish Monica. Crawfish – or crayfish or crawdads – look like mini lobsters and are a hugely common ingredient in New Orleans cuisine. The Monica version is served with a creamy sauce and pasta, and is delicious.

Other delicacies include crab cakes, fish tacos, enchiladas, alligator sausages – trust me, they’re delectable – and po-boys, more of which later.

Tearing ourselves away from the food stalls, we watch as the crowd splits pretty much down the middle for the two headline acts – Louisiana favourite Jon Batiste on one stage, The Killers on the other. We go with the latter and the Las Vegas natives put on quite a show, belting out favourites such as Mr Brightside and Human. The 1.5- hour set has the audience enthralled throughout.

After their encore, tens of thousands of attendees make their way to the exits and a constant stream of buses takes us back to downtown in no time, leaving us with plenty of time and options to dance the night away.

My rock chick sated after The Killers, it’s time for some proper New Orleans-style music. In the nearby Jazz Playhouse, the Brass-aholics follow up their Jazz Fest performance with a more intimate gig. A fusion of brass, jazz, funk and rap, their style is unique and brilliant.

They finish with a ‘second line’, a New Orleans tradition in which the ‘first line’, or main section of a parade, is joined by people who follow the band to enjoy the music and dance, waving handkerchiefs and twirling umbrellas.

These are often seen at jazz funerals – a New Orleans tradition that my mam was keen to see but, obviously, is very hard to organise in advance. So we join the Brass-a-holics version with enthusiasm.

We’re equally enthusiastic the following evening when we get to see the incredible Robin Barnes at the beautiful Peacock Room.

Known as the songbird of New Orleans, Robin and her husband Pat Casey combine jazz, gospel and blues brilliantly.

Her performance is also very typical of Jazz Fest week, as she brings up several guest singers and musicians to join the show, all done on the fly and with no rehearsals. It’s like several shows rolled into one.

Fantastic food

The food is just as good, with local highlights like smoked Gulf fish dip and roasted Louisiana oysters, to more modern favourites like smash burgers and beef short rib.

This mix of contemporary and classic cuisines is typical of New Orleans as a whole. Due to its immigration history, it’s a fusion of cajun, creole, soul food, Italian/Sicilian, French, Spanish, west African and Native American.

Seafood also plays an important part as the city is located where the Mississippi River flows into the Gulf of Mexico, so there is a rich variety of both saltwater and freshwater fish and shellfish.

Some dishes you must try include the aforementioned crawfish Monica, beignets, gumbo, etouffee, andouille, muffuletta, shrimp and grits, and turtle soup. Most can be found in restaurants across the city but street-side offerings are equally good.

The po-boy needs a longer explanation and ordering one is not a suggestion, it’s an order. A sandwich of roast beef, ham, shrimp, crawfish, fish, oysters or crab, it’s served in New Orleans French bread, which has a crisp crust and fluffy centre. It’s very simple and utterly mouth-watering.

Its origin story is disputed but it’s rumoured to have started in a restaurant run by Benny and Clovis Martin, former streetcar conductors, which was started in 1921.

In 1929, during a four-month strike by streetcar workers, the Martin brothers served their former colleagues free sandwiches. They jokingly referred to an incoming diner as ‘another poor boy’ if he turned out to be one of the strikers, and the name evolved to po-boy.

Whether the story is true or a genius marketing ploy, they’re a must-try. Another highly recommended dish is the crab cheesecake at the Palace Cafe’s Jazz Brunch. Outside of food, drink and music, there’s much to do and see in the city.

So much to see and do

The Mardi Gras Museum of Costume and Culture is a small but fascinating look at the famous festival. Elaborate outfits are on display and the guide gives a history of the world-renowned event, followed by a parade, after which you can dress up in some of the colourful costumes.

A short walk away, Vue Orleans, right on the river, offers a deep dive into the history, music and culture of the area with nine original films, seven interactive exhibits and the city’s only rooftop 360-degree panoramic viewing platform, with incredible views.

Just beside it is the Audubon Aquarium & Insectarium, which has recently undergone a $40million renovation. It’s home to more than 3,600 animals from over 250 species, including the endangered such as African penguins, and rare animals such as white alligators.

This area is also home to Riverwalk Outlets, should you want to do some cut-price shopping. It features brands such as Tommy Hilfiger, Guess, Kate Spade, Samsonite, Skechers and Gap, with the usual large discounts you find at American outlet malls.

The river is also home to the New Orleans Steamboat Company, which has been involved in steam transport since 1817. After dinner and a sail with beautiful panoramic views of the city, we’re treated to – what else? – some brilliant jazz music. Play it again, indeed.

Travel Facts

Aer Lingus and American Airlines fly from most Irish airports to New Orleans from €630, though there are no direct flights. Rooms at the Hotel Monteleone from €158 per night, see hotelmonteleone.com. Platinum Holidays organises US city breaks, see platinumtravel.com. Visit neworleans.com for more information.