UFP Industries, Inc. (NASDAQ:UFPI) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. grew its position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 18.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,225,972 shares of the construction company's stock after buying an additional 188,969 shares during the quarter. Franklin Resources Inc. owned 2.02% of UFP Industries worth $169,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in UFPI. Hsbc Holdings PLC boosted its holdings in UFP Industries by 233.2% in the second quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company's stock worth $729,000 after purchasing an additional 4,595 shares during the last quarter. Raymond James & Associates raised its position in shares of UFP Industries by 16.2% during the 2nd quarter. Raymond James & Associates now owns 209,085 shares of the construction company's stock valued at $23,417,000 after purchasing an additional 29,221 shares during the period. Citigroup Inc. raised its position in shares of UFP Industries by 50.7% during the 3rd quarter. Citigroup Inc. now owns 119,426 shares of the construction company's stock valued at $15,670,000 after purchasing an additional 40,162 shares during the period. Blue Trust Inc. increased its holdings in UFP Industries by 131.4% in the 2nd quarter. Blue Trust Inc. now owns 870 shares of the construction company's stock valued at $107,000 after acquiring an additional 494 shares during the last quarter. Finally, Harfst & Associates Inc. increased its holdings in UFP Industries by 2.8% in the 2nd quarter. Harfst & Associates Inc. now owns 22,848 shares of the construction company's stock valued at $2,559,000 after acquiring an additional 627 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wedbush reissued an "outperform" rating and issued a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. StockNews.com upgraded shares of UFP Industries from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $148.00.

Insiders Place Their Bets

In other news, CEO Matthew J. Missad sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the transaction, the chief executive officer now owns 314,450 shares of the company's stock, valued at approximately $41,202,383.50. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.58% of the stock is currently owned by insiders.

UFP Industries Stock Performance

Shares of UFPI stock traded down $1.28 during trading hours on Friday, hitting $126.86. The company's stock had a trading volume of 218,883 shares, compared to its average volume of 204,368. The company has a 50 day moving average of $131.93 and a 200 day moving average of $123.90. UFP Industries, Inc. has a 12-month low of $107.49 and a 12-month high of $141.33. The stock has a market cap of $7.70 billion, a PE ratio of 17.45 and a beta of 1.41. The company has a current ratio of 4.31, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.25). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business's revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.10 earnings per share. On average, sell-side analysts forecast that UFP Industries, Inc. will post 6.88 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries's dividend payout ratio (DPR) is presently 18.16%.

UFP Industries Company 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.