Great Lakes Advisors LLC Buys Shares of 50,668 UFP Industries, Inc. $UFPI

Great Lakes Advisors LLC purchased a new position in UFP Industries, Inc. (NASDAQ:UFPI) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 50,668 shares of the construction company’s stock, valued at approximately $4,598,000.

A number of other large investors also recently modified their holdings of the business. Royal Bank of Canada raised its stake in UFP Industries by 3.0% during the 1st quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock valued at $6,597,000 after purchasing an additional 1,798 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in UFP Industries by 8.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock worth $317,000 after purchasing an additional 221 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of UFP Industries by 10.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock worth $13,831,000 after purchasing an additional 12,043 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of UFP Industries by 90.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after purchasing an additional 259 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of UFP Industries during the 2nd quarter worth about $232,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Performance

NASDAQ UFPI opened at $90.42 on Thursday. The stock has a market cap of $4.99 billion, a P/E ratio of 20.74 and a beta of 1.23. The company’s 50-day simple moving average is $87.97 and its 200 day simple moving average is $91.62. UFP Industries, Inc. has a twelve month low of $77.89 and a twelve month high of $118.00. The company has a quick ratio of 2.64, a current ratio of 3.98 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. The firm had revenue of $1.88 billion during 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%. As a group, research analysts forecast that UFP Industries, Inc. will post 4.56 earnings per share 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 issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.6%. UFP Industries’s dividend payout ratio is presently 33.03%.

Analyst Ratings Changes

Several research firms recently weighed in on UFPI. Benchmark reduced their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Weiss Ratings upgraded UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. DA Davidson cut their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Finally, 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 report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.75.

UFP Industries Company 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.