Confluence Investment Management LLC purchased a new stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,686 shares of the construction company's stock, valued at approximately $1,260,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State of Wyoming increased its holdings in shares of UFP Industries by 8.4% in the first quarter. State of Wyoming now owns 1,294 shares of the construction company's stock valued at $139,000 after purchasing an additional 100 shares during the last quarter. Great Lakes Advisors LLC increased its stake in UFP Industries by 0.5% during the first quarter. Great Lakes Advisors LLC now owns 21,105 shares of the construction company's stock worth $2,259,000 after acquiring an additional 105 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in UFP Industries by 39.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company's stock worth $45,000 after acquiring an additional 119 shares during the last quarter. Park Avenue Securities LLC increased its stake in UFP Industries by 6.5% during the first quarter. Park Avenue Securities LLC now owns 2,221 shares of the construction company's stock worth $238,000 after acquiring an additional 136 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its stake in UFP Industries by 2.1% during the first quarter. Nations Financial Group Inc. IA ADV now owns 6,950 shares of the construction company's stock worth $744,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.
Analysts Set New Price Targets
UFPI has been the subject of several recent analyst reports. Loop Capital initiated coverage on UFP Industries in a research note on Wednesday, July 23rd. They set a "hold" rating and a $112.00 target price for the company. Zacks Research cut UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $134.00.
Read Our Latest Report on UFPI
UFP Industries Stock Performance
Shares of UFP Industries stock traded down $1.93 on Friday, hitting $96.27. The stock had a trading volume of 161,976 shares, compared to its average volume of 420,309. UFP Industries, Inc. has a 52-week low of $93.00 and a 52-week high of $141.33. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 16.71 and a beta of 1.47. The company's 50 day moving average price is $101.50 and its 200 day moving average price is $102.30.
UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.25). UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. On average, research analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current year.
UFP Industries Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 1st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, August 29th. UFP Industries's dividend payout ratio (DPR) is 24.31%.
UFP Industries Company Profile
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Free Report)
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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