Martin & Co. Inc. TN Invests $3.64 Million in UniFirst Corporation $UNF

Martin & Co. Inc. TN purchased a new stake in UniFirst Corporation (NYSE:UNF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,767 shares of the textile maker’s stock, valued at approximately $3,641,000. Martin & Co. Inc. TN owned approximately 0.08% of UniFirst at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in UNF. BlackRock Inc. acquired a new position in UniFirst during the 2nd quarter worth approximately $580,008,000. River Road Asset Management LLC boosted its position in UniFirst by 9.6% in the fourth quarter. River Road Asset Management LLC now owns 865,014 shares of the textile maker’s stock valued at $166,861,000 after buying an additional 75,524 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of UniFirst by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 787,418 shares of the textile maker’s stock worth $151,895,000 after buying an additional 14,751 shares during the last quarter. Engine Capital Management LP grew its stake in shares of UniFirst by 640.5% during the fourth quarter. Engine Capital Management LP now owns 459,871 shares of the textile maker’s stock worth $88,709,000 after buying an additional 397,772 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of UniFirst by 46.8% during the fourth quarter. First Trust Advisors LP now owns 451,194 shares of the textile maker’s stock worth $87,035,000 after buying an additional 143,853 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

UniFirst Price Performance

UNF opened at $290.45 on Friday. UniFirst Corporation has a fifty-two week low of $147.66 and a fifty-two week high of $306.67. The company’s 50 day moving average price is $280.48 and its two-hundred day moving average price is $262.69. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 45.81 and a beta of 0.63.

UniFirst (NYSE:UNF) last issued its quarterly earnings results on Wednesday, July 1st. The textile maker reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.84). The business had revenue of $634.40 million for the quarter, compared to analyst estimates of $627.66 million. UniFirst had a return on equity of 6.44% and a net margin of 4.65%.UniFirst’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.13 EPS. As a group, equities research analysts predict that UniFirst Corporation will post 7.49 EPS for the current year.

UniFirst Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a $0.365 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.46 annualized dividend and a yield of 0.5%. UniFirst’s dividend payout ratio is presently 23.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UNF. UBS Group set a $262.00 price target on UniFirst in a research note on Monday, July 6th. Weiss Ratings cut UniFirst from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 9th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $246.67.

UniFirst Company Profile

UniFirst Corporation (NYSE: UNF) is a leading provider of customized uniform rental and facility service programs in North America and Europe. The company specializes in the rental, laundering and maintenance of workwear, corporate apparel and protective garments for a broad range of industries, including manufacturing, automotive, hospitality, healthcare and food processing. UniFirst also offers a suite of facility service products such as entrance mats, restroom supplies, wipers, mops and hygienic services designed to help customers maintain clean and safe environments.

In addition to its core uniform rental business, UniFirst has expanded its product portfolio to include safety and first-responder gear, flame-resistant clothing, high-visibility apparel and personal protective equipment (PPE).