Man Group plc Invests $3.75 Million in UFP Industries, Inc. $UFPI

Key Points

• Man Group plc acquired 41,277 UFP Industries shares worth approximately $3.75 million during the second quarter, while other institutional investors also established or increased positions. Institutions and hedge funds collectively own 81.81% of UFPI.
• Analysts hold a consensus “Moderate Buy” rating with an average price target of $104.50. UFP Industries recently exceeded quarterly expectations, reporting $1.48 in EPS versus the $1.37 consensus and revenue of $1.88 billion.
• UFPI shares opened at $86.01, below the analyst consensus target, and the company declared a quarterly dividend of $0.36 per share, equivalent to an annualized $1.44 and a 1.7% yield.

Man Group plc acquired a new position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 41,277 shares of the construction company's stock, valued at approximately $3,745,000. Man Group plc owned about 0.07% of UFP Industries as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in UFPI. Jupiter Topco LLC bought a new position in UFP Industries during the second quarter worth about $2,386,000. Legal & General Group Plc bought a new stake in shares of UFP Industries in the second quarter valued at approximately $7,633,000. The Manufacturers Life Insurance Company purchased a new stake in shares of UFP Industries during the 2nd quarter valued at approximately $4,794,000. Sanctuary Advisors LLC bought a new position in UFP Industries in the 2nd quarter worth approximately $272,000. Finally, Commerce Bank bought a new position in UFP Industries in the 2nd quarter worth approximately $287,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

UFP Industries Price Performance

Shares of NASDAQ UFPI opened at $86.01 on Monday. UFP Industries, Inc. has a one year low of $77.89 and a one year high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64. The firm's 50 day simple moving average is $88.28 and its two-hundred day simple moving average is $90.51. The stock has a market capitalization of $4.74 billion, a P/E ratio of 19.73 and a beta of 1.23.

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

UFP Industries Announces Dividend

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

UFP Industries 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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