The Manufacturers Life Insurance Company Makes New $4.79 Million Investment in UFP Industries, Inc. $UFPI

The Manufacturers Life Insurance Company acquired a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the second quarter, HoldingsChannel.com reports. The fund acquired 52,836 shares of the construction company’s stock, valued at approximately $4,794,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in UFP Industries in the 2nd quarter valued at $688,063,000. Norges Bank bought a new position in shares of UFP Industries during the 4th quarter valued at about $75,183,000. Wasatch Advisors LP grew its position in shares of UFP Industries by 32.9% during the first quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock valued at $187,732,000 after purchasing an additional 504,609 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of UFP Industries during the second quarter valued at about $34,067,000. Finally, River Road Asset Management LLC increased its holdings in shares of UFP Industries by 64.1% in the fourth quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock worth $80,118,000 after purchasing an additional 343,830 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on UFPI shares. Weiss Ratings upgraded UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. 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. Finally, Stifel Nicolaus set a $90.00 price objective on UFP Industries and gave the stock a “hold” rating in a report on Monday, August 24th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, UFP Industries has a consensus rating of “Moderate Buy” and an average target price of $104.50.

UFP Industries Stock Down 1.7%

Shares of NASDAQ UFPI opened at $84.52 on Tuesday. The company has a current ratio of 3.98, a quick ratio of 2.64 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12-month low of $77.89 and a 12-month high of $118.00. The firm’s 50-day moving average price is $88.26 and its 200-day moving average price is $90.29. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 19.39 and a beta of 1.23.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.37 by $0.11. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%.The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.79 billion. On average, equities research analysts anticipate that UFP Industries, Inc. will post 4.51 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business 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 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 payout ratio is currently 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.