Franklin Resources Inc. Purchases 118,083 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Franklin Resources Inc. lifted its position in UFP Industries, Inc. (NASDAQ:UFPIGet Rating) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,643,044 shares of the construction company’s stock after buying an additional 118,083 shares during the period. Franklin Resources Inc. owned about 2.67% of UFP Industries worth $111,958,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pinebridge Investments L.P. increased its position in shares of UFP Industries by 502.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 602 shares of the construction company’s stock valued at $41,000 after buying an additional 502 shares in the last quarter. CX Institutional bought a new position in UFP Industries during the 2nd quarter worth about $48,000. Archer Investment Corp bought a new position in UFP Industries during the 1st quarter worth about $56,000. Quadrant Capital Group LLC increased its holdings in UFP Industries by 61.2% during the 1st quarter. Quadrant Capital Group LLC now owns 769 shares of the construction company’s stock worth $59,000 after purchasing an additional 292 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in UFP Industries during the 1st quarter worth about $62,000. Institutional investors own 81.86% of the company’s stock.

UFP Industries Trading Down 0.7 %

UFP Industries stock opened at $80.85 on Thursday. The firm has a 50-day moving average of $73.26 and a 200-day moving average of $76.33. UFP Industries, Inc. has a one year low of $64.13 and a one year high of $94.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.03 and a quick ratio of 1.78. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 7.28 and a beta of 1.45.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.24%. UFP Industries’s dividend payout ratio is 9.01%.

Wall Street Analysts Forecast Growth

UFPI has been the subject of a number of research reports. StockNews.com initiated coverage on UFP Industries in a report on Wednesday, October 12th. They set a “buy” rating for the company. DA Davidson lowered their target price on UFP Industries to $96.00 in a report on Thursday, October 27th.

UFP Industries Company Profile

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UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. It operates through Retail, Industrial, and Construction segments. The Retail segment offers preserved and unpreserved dimensional lumber; and outdoor living products, including wood and wood composite decking and related accessories, decorative lawn, garden, craft, and hobby products.

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Institutional Ownership by Quarter for UFP Industries (NASDAQ:UFPI)

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