Denali Advisors LLC Buys Shares of 41,878 UFP Industries, Inc. $UFPI

Denali Advisors LLC acquired a new stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 41,878 shares of the construction company's stock, valued at approximately $3,800,000. Denali Advisors LLC owned 0.08% of UFP Industries as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in UFP Industries in the second quarter worth $688,063,000. Vanguard Group Inc. increased its holdings in shares of UFP Industries by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,117,218 shares of the construction company's stock valued at $556,973,000 after purchasing an additional 17,016 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of UFP Industries by 32.9% in the 1st quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company's stock valued at $187,732,000 after purchasing an additional 504,609 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of UFP Industries by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,909,315 shares of the construction company's stock valued at $173,847,000 after purchasing an additional 44,736 shares during the period. Finally, Boston Partners lifted its stake in shares of UFP Industries by 2.2% in the third quarter. Boston Partners now owns 1,887,460 shares of the construction company's stock valued at $176,449,000 after purchasing an additional 39,957 shares during the period. Hedge funds and other institutional investors own 81.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BMO Capital Markets upgraded shares of UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 price objective on the stock in a research report on Tuesday, May 5th. Stifel Nicolaus set a $90.00 target price on shares of UFP Industries and gave the company a "hold" rating in a report on Monday, August 24th. Weiss Ratings upgraded shares of UFP Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. Finally, Zacks Research upgraded shares of UFP Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $104.50.

UFP Industries Trading Up 0.8%

Shares of UFPI stock opened at $86.01 on Friday. The firm has a market cap of $4.74 billion, a P/E ratio of 19.73 and a beta of 1.23. UFP Industries, Inc. has a 1-year low of $77.89 and a 1-year high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64. The firm's 50-day simple moving average is $88.28 and its 200-day simple moving average is $90.67.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.11. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.79 billion. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. As a group, equities analysts forecast that UFP Industries, Inc. will post 4.51 EPS for the current year.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, September 1st. UFP Industries's dividend payout ratio is presently 33.03%.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.

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