Raymond James & Associates raised its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI – Free Report) by 49.7% during the 2nd quarter, Holdings Channel reports. The fund owned 50,535 shares of the construction company’s stock after purchasing an additional 16,773 shares during the period. Raymond James & Associates’ holdings in UFP Industries were worth $4,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of UFP Industries by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,378,757 shares of the construction company’s stock worth $532,450,000 after buying an additional 33,825 shares in the last quarter. State Street Corp raised its stake 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 in the last quarter. Franklin Resources Inc. raised its stake in shares of UFP Industries by 5.8% in the 1st quarter. Franklin Resources Inc. now owns 1,998,785 shares of the construction company’s stock worth $158,843,000 after buying an additional 108,726 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of UFP Industries by 7.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,838,139 shares of the construction company’s stock worth $146,077,000 after buying an additional 123,745 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of UFP Industries by 8.8% in the 1st quarter. Geode Capital Management LLC now owns 1,258,702 shares of the construction company’s stock worth $100,701,000 after buying an additional 102,125 shares in the last quarter. Institutional investors own 79.45% of the company’s stock.
Insider Activity
In other news, Director Kuras Mary Tuuk sold 9,000 shares of UFP Industries stock in a transaction on Tuesday, August 22nd. The stock was 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 in the company, valued at $958,764.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.55% of the stock is currently owned by corporate insiders.
UFP Industries Stock Up 1.4 %
UFP Industries (NASDAQ:UFPI – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The construction company reported $2.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 21.75% and a net margin of 7.12%. The firm’s revenue for the quarter was down 29.5% on a year-over-year basis. During the same period last year, the firm earned $3.23 earnings per share. Equities analysts anticipate that UFP Industries, Inc. will post 8.26 earnings per share for the current year.
UFP Industries Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.30 per share. This is an increase from UFP Industries’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, August 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. UFP Industries’s payout ratio is currently 13.19%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on UFPI shares. Benchmark reissued a “buy” rating and issued a $120.00 price objective on shares of UFP Industries in a research note on Monday, August 21st. StockNews.com began coverage on UFP Industries in a research note on Thursday, October 5th. They issued a “buy” rating on the stock.
View Our Latest Report on UFPI
UFP Industries Profile
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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