Mackenzie Financial Corp Has $494,000 Position in UFP Industries, Inc. (NASDAQ:UFPI)

Mackenzie Financial Corp cut its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 46.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,411 shares of the construction company’s stock after selling 3,841 shares during the quarter. Mackenzie Financial Corp’s holdings in UFP Industries were worth $494,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UFPI. Kayne Anderson Rudnick Investment Management LLC increased its position in UFP Industries by 0.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock valued at $361,155,000 after acquiring an additional 28,601 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of UFP Industries by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock valued at $90,857,000 after purchasing an additional 5,784 shares in the last quarter. AQR Capital Management LLC raised its position in UFP Industries by 22.7% in the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock worth $67,594,000 after purchasing an additional 112,518 shares during the last quarter. Wasatch Advisors LP lifted its holdings in UFP Industries by 5.2% during the 4th quarter. Wasatch Advisors LP now owns 334,351 shares of the construction company’s stock worth $41,978,000 after buying an additional 16,486 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in UFP Industries by 21.0% in the 4th quarter. First Trust Advisors LP now owns 291,228 shares of the construction company’s stock valued at $36,564,000 after buying an additional 50,537 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Up 0.1 %

UFP Industries stock opened at $129.71 on Friday. UFP Industries, Inc. has a fifty-two week low of $90.62 and a fifty-two week high of $136.93. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 16.13 and a beta of 1.39. The company’s 50 day simple moving average is $122.85 and its 200 day simple moving average is $118.89.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The firm’s revenue was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 EPS. As a group, sell-side analysts anticipate that UFP Industries, Inc. will post 7.27 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, August 30th. UFP Industries’s dividend payout ratio is currently 16.42%.

Analysts Set New Price Targets

UFPI has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Wedbush restated a “neutral” rating and set a $120.00 target price (up from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Benchmark lifted their price target on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Finally, Stifel Nicolaus raised their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.60.

About UFP Industries

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.