52,836 Shares in UFP Industries, Inc. $UFPI Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 52,836 shares of UFP Industries in the second quarter, worth approximately $4.8 million. Institutional investors collectively own 81.81% of the company.
• UFP Industries exceeded quarterly expectations, reporting $1.48 in earnings per share versus the $1.37 consensus estimate and revenue of $1.88 billion, above the $1.79 billion forecast.
• The company declared a quarterly dividend of $0.36 per share, equal to a $1.44 annualized payout and a 1.7% yield. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $104.50.

The Manufacturers Life Insurance Company bought a new position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 52,836 shares of the construction company's stock, valued at approximately $4,794,000. The Manufacturers Life Insurance Company owned 0.10% of UFP Industries at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC purchased a new position in shares of UFP Industries in the 1st quarter worth $28,000. Root Financial Partners LLC grew its holdings in shares of UFP Industries by 86.0% in the first quarter. Root Financial Partners LLC now owns 320 shares of the construction company's stock worth $29,000 after acquiring an additional 148 shares during the period. Geneos Wealth Management Inc. increased its position in UFP Industries by 54.8% during the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock valued at $32,000 after acquiring an additional 114 shares during the last quarter. Danske Bank A S increased its position in UFP Industries by 300.0% during the fourth quarter. Danske Bank A S now owns 400 shares of the construction company's stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Finally, IFP Advisors Inc lifted its holdings in UFP Industries by 84.8% in the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company's stock valued at $38,000 after acquiring an additional 190 shares during the period. 81.81% of the stock is owned by institutional investors.

UFP Industries Stock Down 1.7%

Shares of UFPI stock opened at $84.52 on Tuesday. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 19.39 and a beta of 1.23. UFP Industries, Inc. has a one year low of $77.89 and a one year high of $118.00. The company's fifty day moving average price is $88.26 and its 200-day moving average price is $90.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.11. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.79 billion. Sell-side analysts expect that UFP Industries, Inc. will post 4.51 EPS for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. UFP Industries's payout ratio is presently 33.03%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on UFPI shares. Stifel Nicolaus set a $90.00 price target on UFP Industries and gave the company a "hold" rating in a research note on Monday, August 24th. Zacks Research raised shares of UFP Industries from a "strong sell" rating to a "hold" rating in a report on Friday, July 31st. BMO Capital Markets upgraded shares of UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 target price for the company in a research report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of UFP Industries from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, UFP Industries presently has a consensus rating of "Moderate Buy" and an average price target of $104.50.

UFP Industries Company Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.

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