UFP Industries, Inc. (NASDAQ:UFPI) Stake Lifted by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,225,972 shares of the construction company’s stock after buying an additional 188,969 shares during the period. Franklin Resources Inc. owned 2.02% of UFP Industries worth $169,675,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its position in shares of UFP Industries by 6.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,897 shares of the construction company’s stock worth $1,450,000 after buying an additional 674 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of UFP Industries by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock valued at $200,553,000 after purchasing an additional 14,857 shares during the period. Vestcor Inc raised its holdings in shares of UFP Industries by 2.4% during the third quarter. Vestcor Inc now owns 11,096 shares of the construction company’s stock valued at $1,456,000 after acquiring an additional 261 shares during the period. M&T Bank Corp raised its stake in UFP Industries by 17.3% during the 3rd quarter. M&T Bank Corp now owns 3,029 shares of the construction company’s stock valued at $397,000 after purchasing an additional 446 shares during the period. Finally, Barclays PLC raised its position in UFP Industries by 109.0% during the third quarter. Barclays PLC now owns 135,996 shares of the construction company’s stock valued at $17,844,000 after buying an additional 70,927 shares during the period. Institutional investors own 81.81% of the company’s stock.

Analyst Ratings Changes

UFPI has been the topic of several research analyst reports. StockNews.com upgraded shares of UFP Industries from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wedbush reissued an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Insider Activity

In related news, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the transaction, the chief executive officer now owns 314,450 shares in the company, valued at $41,202,383.50. This trade represents a 4.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.58% of the company’s stock.

UFP Industries Trading Down 1.0 %

UFPI opened at $126.86 on Friday. The company has a market cap of $7.70 billion, a P/E ratio of 17.45 and a beta of 1.41. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $131.93 and its 200-day moving average is $123.90. UFP Industries, Inc. has a 1-year low of $107.49 and a 1-year high of $141.33.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm posted $2.10 EPS. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts predict that UFP Industries, Inc. will post 6.88 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 Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.33 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a yield of 1.04%. UFP Industries’s dividend payout ratio is presently 18.16%.

UFP Industries Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.