Franklin Resources Inc. Raises Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Franklin Resources Inc. raised its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,287,833 shares of the construction company’s stock after purchasing an additional 61,861 shares during the quarter. Franklin Resources Inc. owned 2.12% of UFP Industries worth $145,074,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. O Shaughnessy Asset Management LLC raised its holdings in UFP Industries by 10.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,741 shares of the construction company’s stock valued at $985,000 after buying an additional 832 shares during the period. Norges Bank purchased a new stake in shares of UFP Industries in the 4th quarter valued at approximately $83,149,000. Loomis Sayles & Co. L P lifted its holdings in shares of UFP Industries by 0.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 272,349 shares of the construction company’s stock worth $30,680,000 after acquiring an additional 1,775 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of UFP Industries by 10.7% during the 4th quarter. JPMorgan Chase & Co. now owns 698,684 shares of the construction company’s stock worth $78,707,000 after purchasing an additional 67,280 shares during the period. Finally, Penobscot Investment Management Company Inc. boosted its position in shares of UFP Industries by 70.9% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,520 shares of the construction company’s stock worth $509,000 after purchasing an additional 1,875 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $109.10 on Thursday. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 16.12 and a beta of 1.45. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52 week low of $102.35 and a 52 week high of $141.33. The company has a fifty day simple moving average of $110.97 and a two-hundred day simple moving average of $120.91.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04). The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. As a group, equities analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.35 dividend. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 1.28%. UFP Industries’s dividend payout ratio (DPR) is 20.68%.

Wall Street Analyst Weigh In

UFPI has been the topic of a number of research reports. Benchmark restated a “buy” rating and set a $135.00 price target on shares of UFP Industries in a research note on Wednesday, February 19th. StockNews.com lowered UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

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.