UFP Industries, Inc. (NASDAQ:UFPI) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,550 shares of the construction company's stock after buying an additional 5,141 shares during the period. Wedge Capital Management L L P NC owned approximately 0.09% of UFP Industries worth $6,053,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in UFPI. CIBC Asset Management Inc lifted its position in UFP Industries by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company's stock valued at $213,000 after purchasing an additional 97 shares during the period. Robertson Stephens Wealth Management LLC lifted its position in UFP Industries by 5.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company's stock valued at $216,000 after purchasing an additional 104 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in UFP Industries by 2.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company's stock valued at $494,000 after purchasing an additional 104 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in UFP Industries by 6.2% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company's stock valued at $202,000 after purchasing an additional 105 shares during the period. Finally, Park Avenue Securities LLC lifted its position in UFP Industries by 6.5% in the first quarter. Park Avenue Securities LLC now owns 2,221 shares of the construction company's stock valued at $238,000 after purchasing an additional 136 shares during the period. Institutional investors and hedge funds own 81.81% of the company's stock.

UFP Industries Price Performance

UFP Industries stock traded down $2.26 during mid-day trading on Wednesday, reaching $97.99. The company had a trading volume of 540,219 shares, compared to its average volume of 355,896. UFP Industries, Inc. has a 1 year low of $94.68 and a 1 year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The company has a market capitalization of $5.92 billion, a P/E ratio of 14.47 and a beta of 1.49. The stock's 50-day simple moving average is $101.30 and its 200-day simple moving average is $110.50.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its earnings results 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). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The company had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period last year, the business posted $1.96 earnings per share. The company's quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 annualized dividend and a dividend yield of 1.43%. UFP Industries's dividend payout ratio is currently 22.91%.

Wall Street Analysts Forecast Growth

UFPI has been the subject of a number of recent analyst reports. Benchmark restated a "buy" rating and issued a $135.00 price objective on shares of UFP Industries in a research report on Wednesday, February 19th. Wall Street Zen cut shares of UFP Industries from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.00.

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.