Franklin Resources Inc. Has $51.98 Million Stock Position in Louisiana-Pacific Co. (NYSE:LPX)

Franklin Resources Inc. grew its stake in shares of Louisiana-Pacific Co. (NYSE:LPX) by 6.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 500,374 shares of the building manufacturing company’s stock after purchasing an additional 30,297 shares during the quarter. Franklin Resources Inc.’s holdings in Louisiana-Pacific were worth $51,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the company. William Blair Investment Management LLC acquired a new stake in Louisiana-Pacific during the 2nd quarter worth approximately $91,053,000. Pacer Advisors Inc. lifted its holdings in shares of Louisiana-Pacific by 11,417.9% during the third quarter. Pacer Advisors Inc. now owns 1,106,410 shares of the building manufacturing company’s stock worth $118,895,000 after buying an additional 1,096,804 shares in the last quarter. FMR LLC boosted its position in shares of Louisiana-Pacific by 25.2% in the third quarter. FMR LLC now owns 3,167,946 shares of the building manufacturing company’s stock valued at $340,427,000 after acquiring an additional 638,058 shares during the period. Marshall Wace LLP grew its stake in shares of Louisiana-Pacific by 92.4% in the second quarter. Marshall Wace LLP now owns 1,255,474 shares of the building manufacturing company’s stock valued at $103,363,000 after acquiring an additional 602,803 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Louisiana-Pacific by 188.3% in the second quarter. Renaissance Technologies LLC now owns 447,400 shares of the building manufacturing company’s stock valued at $36,834,000 after acquiring an additional 292,200 shares in the last quarter. Institutional investors own 94.73% of the company’s stock.

Insider Activity

In related news, Director Ozey K. Horton, Jr. sold 300 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $113.41, for a total value of $34,023.00. Following the completion of the transaction, the director now owns 28,638 shares of the company’s stock, valued at $3,247,835.58. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lizanne C. Gottung sold 2,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $113.50, for a total transaction of $283,750.00. Following the sale, the director now directly owns 18,513 shares in the company, valued at approximately $2,101,225.50. The trade was a 11.90 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com cut shares of Louisiana-Pacific from a “buy” rating to a “hold” rating in a research note on Sunday, November 10th. Bank of America lifted their price target on shares of Louisiana-Pacific from $73.00 to $75.00 and gave the company an “underperform” rating in a research report on Thursday, September 12th. The Goldman Sachs Group increased their price target on Louisiana-Pacific from $90.00 to $99.00 and gave the stock a “sell” rating in a research report on Wednesday, November 6th. TD Securities lifted their price objective on Louisiana-Pacific from $115.00 to $123.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, BMO Capital Markets increased their target price on Louisiana-Pacific from $99.00 to $103.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $102.22.

Louisiana-Pacific Price Performance

Louisiana-Pacific stock opened at $110.65 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.69 and a current ratio of 2.92. Louisiana-Pacific Co. has a 52 week low of $63.76 and a 52 week high of $122.87. The stock has a market capitalization of $7.77 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.82 and a beta of 1.91. The stock has a fifty day moving average of $109.88 and a 200-day moving average of $99.39.

Louisiana-Pacific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 20th were issued a $0.26 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.94%. Louisiana-Pacific’s dividend payout ratio (DPR) is currently 17.93%.

Louisiana-Pacific Profile

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.