Royal Bank of Canada Raises Stake in UFP Industries, Inc. $UFPI

Key Points

• Royal Bank of Canada increased its UFP Industries stake by 50.2% in the first quarter, holding 52,008 shares valued at approximately $4.8 million. Institutional investors collectively own 81.81% of the company.
• UFP Industries reported quarterly earnings of $1.48 per share, exceeding estimates of $1.37, while revenue of $1.88 billion also surpassed forecasts. Analysts expect full-year earnings of $4.56 per share.
• The company declared a quarterly dividend of $0.36, equal to a 1.6% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $103.75, above the reported share price of $91.27.

Royal Bank of Canada increased its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 50.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,008 shares of the construction company's stock after buying an additional 17,376 shares during the quarter. Royal Bank of Canada owned about 0.09% of UFP Industries worth $4,792,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. IAG Wealth Partners LLC purchased a new stake in shares of UFP Industries in the 1st quarter valued at $28,000. Root Financial Partners LLC lifted its position in UFP Industries by 86.0% during the first quarter. Root Financial Partners LLC now owns 320 shares of the construction company's stock valued at $29,000 after purchasing an additional 148 shares during the period. Geneos Wealth Management Inc. boosted its holdings in UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock valued at $32,000 after purchasing an additional 114 shares during the last quarter. Danske Bank A S boosted its holdings in UFP Industries by 300.0% in the fourth quarter. Danske Bank A S now owns 400 shares of the construction company's stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Finally, IFP Advisors Inc grew its position in UFP Industries by 84.8% during the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company's stock worth $38,000 after purchasing an additional 190 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

UFPI opened at $91.27 on Friday. The company has a quick ratio of 2.64, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The company has a market cap of $5.03 billion, a price-to-earnings ratio of 20.93 and a beta of 1.23. UFP Industries, Inc. has a 52-week low of $77.89 and a 52-week high of $118.00. The firm's fifty day simple moving average is $87.38 and its two-hundred day simple moving average is $92.02.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its 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. The business had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.79 billion. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. Equities analysts anticipate that UFP Industries, Inc. will post 4.56 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently announced 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 1.6%. The ex-dividend date is Tuesday, September 1st. UFP Industries's dividend payout ratio (DPR) is 33.03%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on UFPI shares. Zacks Research raised UFP Industries from a "strong sell" rating to a "hold" rating in a report on Friday, July 31st. Benchmark dropped their target price on UFP Industries from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Weiss Ratings upgraded UFP Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Stifel Nicolaus decreased their price target on UFP Industries from $100.00 to $87.00 and set a "hold" rating for the company in a report on Monday, May 11th. Finally, BMO Capital Markets upgraded UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 price objective on the stock in a research report on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $103.75.

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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