Mackenzie Financial Corp Grows Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Mackenzie Financial Corp lifted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 109.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,162 shares of the construction company's stock after purchasing an additional 4,265 shares during the quarter. Mackenzie Financial Corp's holdings in UFP Industries were worth $919,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in UFP Industries by 3.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock valued at $102,158,000 after acquiring an additional 31,381 shares during the period. CIBC Asset Management Inc lifted its stake in UFP Industries by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company's stock worth $213,000 after purchasing an additional 97 shares during the last quarter. Gotham Asset Management LLC raised its stake in UFP Industries by 28.1% during the fourth quarter. Gotham Asset Management LLC now owns 2,664 shares of the construction company's stock worth $300,000 after acquiring an additional 584 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in UFP Industries by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 772,001 shares of the construction company's stock valued at $86,966,000 after purchasing an additional 2,160 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of UFP Industries by 1,683.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company's stock valued at $60,000 after acquiring an additional 505 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on UFPI. Benchmark reissued a "buy" rating and issued a $135.00 price target on shares of UFP Industries in a research note on Wednesday, February 19th. Wall Street Zen downgraded shares of UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $143.00.

UFP Industries Stock Up 0.4%

UFP Industries stock traded up $0.35 during mid-day trading on Thursday, hitting $97.41. The company had a trading volume of 377,651 shares, compared to its average volume of 352,966. UFP Industries, Inc. has a 12 month low of $94.68 and a 12 month high of $141.33. The stock's 50 day moving average price is $101.98 and its two-hundred day moving average price is $111.39. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $5.88 billion, a PE ratio of 14.39 and a beta of 1.54.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.57 by ($0.27). The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The company's revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 earnings per share. As a group, sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.35 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 1.44%. UFP Industries's payout ratio is 22.91%.

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.