Covestor Ltd purchased a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 978 shares of the construction company’s stock, valued at approximately $90,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Trust Advisors LP lifted its stake in UFP Industries by 81.1% during the first quarter. First Trust Advisors LP now owns 113,362 shares of the construction company’s stock worth $3,388,000 after purchasing an additional 50,777 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of UFP Industries during the 1st quarter worth $140,000. Morgan Stanley boosted its stake in UFP Industries by 13.9% in the second quarter. Morgan Stanley now owns 294,367 shares of the construction company’s stock valued at $21,883,000 after buying an additional 35,869 shares in the last quarter. Mackenzie Financial Corp grew its position in UFP Industries by 54.8% in the third quarter. Mackenzie Financial Corp now owns 4,630 shares of the construction company’s stock valued at $315,000 after acquiring an additional 1,639 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in UFP Industries by 1.2% in the third quarter. State Board of Administration of Florida Retirement System now owns 21,041 shares of the construction company’s stock valued at $1,430,000 after acquiring an additional 240 shares during the last quarter. Institutional investors and hedge funds own 81.18% of the company’s stock.
A number of research firms have recently weighed in on UFPI. DA Davidson raised their price target on shares of UFP Industries from $93.00 to $105.00 in a research note on Monday, April 25th. BMO Capital Markets raised their target price on shares of UFP Industries from $82.00 to $88.00 and gave the company a “market perform” rating in a research report on Tuesday, April 26th. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. Finally, Wedbush raised their price objective on UFP Industries from $85.00 to $92.00 in a report on Thursday, February 17th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, UFP Industries currently has a consensus rating of “Buy” and a consensus target price of $92.83.
Shares of NASDAQ UFPI opened at $77.91 on Tuesday. The firm has a 50 day moving average price of $79.78 and a two-hundred day moving average price of $83.64. The stock has a market cap of $4.89 billion, a P/E ratio of 7.85 and a beta of 1.39. UFP Industries, Inc. has a 52-week low of $67.50 and a 52-week high of $94.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.38 and a current ratio of 2.74.
UFP Industries (NASDAQ:UFPI – Get Rating) last posted its quarterly earnings data on Thursday, April 21st. The construction company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.99. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.06 billion. UFP Industries had a return on equity of 31.01% and a net margin of 6.69%. UFP Industries’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 earnings per share. Analysts predict that UFP Industries, Inc. will post 9.6 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from UFP Industries’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, May 31st. UFP Industries’s dividend payout ratio (DPR) is 8.06%.
About UFP Industries (Get Rating)
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.
- Get a free copy of the StockNews.com research report on UFP Industries (UFPI)
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