Legal & General Group Plc Acquires New Position in UFP Industries, Inc. $UFPI

Legal & General Group Plc acquired a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 84,113 shares of the construction company’s stock, valued at approximately $7,633,000.

Other large investors have also recently modified their holdings of the company. IAG Wealth Partners LLC bought a new stake in shares of UFP Industries in the first quarter valued at approximately $28,000. Root Financial Partners LLC boosted its holdings in UFP Industries by 86.0% in the 1st quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock worth $29,000 after buying an additional 148 shares during the period. Geneos Wealth Management Inc. grew its stake in UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after buying an additional 114 shares in the last quarter. Danske Bank A S grew its stake in UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in UFP Industries by 84.8% during the 4th 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. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $82.47 on Wednesday. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 18.92 and a beta of 1.23. The business has a 50 day moving average of $88.23 and a 200 day moving average of $90.06. 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.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. The business had revenue of $1.88 billion for 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%. On average, sell-side analysts predict that UFP Industries, Inc. will post 4.51 earnings per share 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 issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.7%. UFP Industries’s dividend payout ratio (DPR) is currently 33.03%.

Wall Street Analyst Weigh In

Several research firms have issued reports on UFPI. Stifel Nicolaus set a $90.00 target price on UFP Industries and gave the stock a “hold” rating in a research report on Monday, August 24th. 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 note on Tuesday, May 5th. Weiss Ratings raised UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Finally, Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, UFP Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.50.

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.