Arete Wealth Advisors LLC purchased a new position in UFP Industries, Inc. (NASDAQ:UFPI – Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,498 shares of the construction company’s stock, valued at approximately $596,000.
A number of other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of UFP Industries by 16.8% in the 1st quarter. JPMorgan Chase & Co. now owns 735,575 shares of the construction company’s stock worth $58,457,000 after buying an additional 105,907 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of UFP Industries by 5.0% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 28,446 shares of the construction company’s stock worth $2,261,000 after buying an additional 1,355 shares during the last quarter. Cim Investment Management Inc. bought a new position in shares of UFP Industries in the 1st quarter worth about $206,000. Segall Bryant & Hamill LLC lifted its position in shares of UFP Industries by 12.7% in the 1st quarter. Segall Bryant & Hamill LLC now owns 64,080 shares of the construction company’s stock worth $5,092,000 after buying an additional 7,233 shares during the last quarter. Finally, State Street Corp lifted its position in shares of UFP Industries by 1.5% in the 1st quarter. State Street Corp now owns 2,055,937 shares of the construction company’s stock worth $163,385,000 after buying an additional 30,135 shares during the last quarter. 79.45% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently weighed in on UFPI. Benchmark reiterated a “buy” rating and issued a $120.00 price objective on shares of UFP Industries in a research report on Monday, August 21st. StockNews.com began coverage on shares of UFP Industries in a research report on Thursday, August 17th. They issued a “buy” rating on the stock.
UFP Industries Trading Down 0.6 %
Shares of NASDAQ:UFPI opened at $102.30 on Friday. The company has a market cap of $6.35 billion, a PE ratio of 11.24 and a beta of 1.52. The company’s 50-day moving average price is $101.59 and its 200 day moving average price is $89.55. UFP Industries, Inc. has a fifty-two week low of $66.17 and a fifty-two week high of $107.57. The company has a quick ratio of 2.87, a current ratio of 4.34 and a debt-to-equity ratio of 0.10.
UFP Industries (NASDAQ:UFPI – Get Free Report) last released its earnings results on Wednesday, August 2nd. The construction company reported $2.36 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.04). The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.29 billion. UFP Industries had a net margin of 7.12% and a return on equity of 21.75%. The firm’s quarterly revenue was down 29.5% on a year-over-year basis. During the same period in the previous year, the business posted $3.23 EPS. Sell-side analysts anticipate that UFP Industries, Inc. will post 8.26 earnings per share for the current year.
UFP Industries Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.30 per share. This is a boost from UFP Industries’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $1.20 annualized dividend and a yield of 1.17%. UFP Industries’s dividend payout ratio (DPR) is presently 13.19%.
Insider Buying and Selling at UFP Industries
In other UFP Industries news, Director Kuras Mary Tuuk sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $100.70, for a total transaction of $906,300.00. Following the transaction, the director now owns 9,521 shares of the company’s stock, valued at approximately $958,764.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.55% of the stock is owned by corporate insiders.
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.
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