Oppenheimer Asset Management Inc. Buys New Position in UFP Industries, Inc. (NASDAQ:UFPI)

Oppenheimer Asset Management Inc. bought a new position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,333 shares of the construction company's stock, valued at approximately $1,534,000.

A number of other hedge funds also recently made changes to their positions in UFPI. Putney Financial Group LLC acquired a new position in shares of UFP Industries during the fourth quarter worth $30,000. Jones Financial Companies Lllp boosted its stake in shares of UFP Industries by 357.8% during the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company's stock valued at $60,000 after purchasing an additional 415 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of UFP Industries by 1,683.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company's stock worth $60,000 after purchasing an additional 505 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of UFP Industries during the fourth quarter worth about $61,000. Finally, UMB Bank n.a. increased its stake in shares of UFP Industries by 182.1% in the first quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock valued at $61,000 after buying an additional 366 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Trading Down 0.1%

NASDAQ:UFPI traded down $0.10 during mid-day trading on Friday, hitting $99.78. 1,985,618 shares of the company's stock were exchanged, compared to its average volume of 363,228. UFP Industries, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $141.33. The company has a current ratio of 4.96, a quick ratio of 3.44 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.03 billion, a P/E ratio of 16.33 and a beta of 1.49. The company has a 50 day simple moving average of $99.51 and a 200-day simple moving average of $107.28.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings results on Monday, April 28th. The construction company reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.27). UFP Industries had a return on equity of 11.78% and a net margin of 5.64%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm posted $1.96 EPS. UFP Industries's revenue for the quarter was down 2.7% on a year-over-year basis. As a group, research analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.35 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.40%. UFP Industries's dividend payout ratio (DPR) is presently 22.91%.

UFP Industries Company 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.