Deutsche Bank AG Invests $5.58 Million in UFP Industries, Inc. $UFPI

Key Points

• Deutsche Bank acquired 61,478 shares of UFP Industries in the second quarter, worth approximately $5.58 million and representing about 0.11% of the company. Institutional investors collectively own 81.81% of UFPI.
• Analyst sentiment is moderately positive: UFP Industries has three Buy and three Hold ratings, producing a consensus rating of “Moderate Buy” and an average price target of $104.50.
• UFP Industries exceeded quarterly expectations, reporting $1.48 in EPS versus the $1.37 estimate and revenue of $1.88 billion versus $1.79 billion expected. The company also declared a quarterly dividend of $0.36 per share, yielding approximately 1.6% annually.

Deutsche Bank AG bought a new position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 61,478 shares of the construction company's stock, valued at approximately $5,579,000. Deutsche Bank AG owned approximately 0.11% of UFP Industries as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in UFPI. Norges Bank bought a new stake in UFP Industries during the fourth quarter worth about $75,183,000. Wasatch Advisors LP increased its position in shares of UFP Industries by 32.9% during the 1st quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company's stock valued at $187,732,000 after purchasing an additional 504,609 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of UFP Industries during the 2nd quarter valued at about $34,067,000. River Road Asset Management LLC raised its holdings in shares of UFP Industries by 64.1% during the 4th quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company's stock valued at $80,118,000 after buying an additional 343,830 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of UFP Industries by 209.9% during the 3rd quarter. Millennium Management LLC now owns 425,336 shares of the construction company's stock valued at $39,765,000 after buying an additional 288,093 shares in the last quarter. Institutional investors own 81.81% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on UFPI shares. BMO Capital Markets upgraded 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. Weiss Ratings upgraded shares of UFP Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Benchmark decreased their price target on shares of UFP Industries from $125.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Stifel Nicolaus set a $90.00 price objective on shares of UFP Industries and gave the stock a "hold" rating in a report on Monday. Finally, Zacks Research raised shares of UFP Industries from a "strong sell" rating to a "hold" rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $104.50.

UFP Industries Price Performance

UFPI opened at $89.23 on Tuesday. The stock's 50 day simple moving average is $88.22 and its 200 day simple moving average is $91.27. 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, Inc. has a 1 year low of $77.89 and a 1 year high of $118.00. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 20.47 and a beta of 1.23.

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

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 1st. UFP Industries's dividend payout ratio is currently 33.03%.

About UFP Industries

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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