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

Royal Bank of Canada increased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 50.2% during the first quarter, HoldingsChannel.com reports. The fund owned 52,008 shares of the construction company’s stock after buying an additional 17,376 shares during the period. Royal Bank of Canada’s holdings in UFP Industries were worth $4,792,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. IAG Wealth Partners LLC acquired a new stake in UFP Industries in the 1st quarter valued at about $28,000. Root Financial Partners LLC boosted its holdings in shares of UFP Industries by 86.0% during the 1st quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock worth $29,000 after purchasing an additional 148 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of 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 in the last quarter. Danske Bank A S increased its holdings in shares of 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, CIBC Private Wealth Group LLC increased its holdings in shares of UFP Industries by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock valued at $38,000 after purchasing an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Down 0.5%

Shares of NASDAQ:UFPI opened at $91.27 on Friday. The firm has a market capitalization of $5.03 billion, a PE ratio of 20.93 and a beta of 1.23. UFP Industries, Inc. has a 1 year low of $77.89 and a 1 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 moving average is $87.38 and its two-hundred day moving average is $92.02.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.37 by $0.11. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.79 billion. Analysts predict that UFP Industries, Inc. will post 4.56 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 1st. UFP Industries’s dividend payout ratio (DPR) is currently 33.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. BMO Capital Markets raised 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 research note on Thursday, August 6th. DA Davidson reduced their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Finally, Benchmark cut their price objective on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.