Raymond James & Associates Has $23.62 Million Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Raymond James & Associates grew its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 133.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,154 shares of the construction company's stock after purchasing an additional 107,477 shares during the period. Raymond James & Associates owned approximately 0.30% of UFP Industries worth $23,623,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UFPI. Contravisory Investment Management Inc. bought a new stake in shares of UFP Industries in the 4th quarter valued at approximately $27,000. Advisors Asset Management Inc. bought a new stake in shares of UFP Industries in the 3rd quarter valued at approximately $28,000. Stonebridge Capital Advisors LLC bought a new stake in shares of UFP Industries in the 2nd quarter valued at approximately $44,000. Ronald Blue Trust Inc. lifted its stake in shares of UFP Industries by 64.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 473 shares of the construction company's stock valued at $46,000 after purchasing an additional 185 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of UFP Industries in the 3rd quarter valued at approximately $59,000. 81.81% of the stock is owned by institutional investors.

UFP Industries Stock Performance

UFPI traded down $3.11 on Monday, reaching $119.90. 188,006 shares of the stock were exchanged, compared to its average volume of 280,545. The company's 50-day moving average price is $115.86 and its 200 day moving average price is $111.51. UFP Industries, Inc. has a fifty-two week low of $75.65 and a fifty-two week high of $128.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.41 and a quick ratio of 3.12. The firm has a market capitalization of $7.38 billion, a PE ratio of 15.26 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.06). The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a net margin of 7.12% and a return on equity of 17.86%. The business's quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the firm earned $2.10 EPS. As a group, sell-side analysts forecast that UFP Industries, Inc. will post 7.39 EPS for the current fiscal year.

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from UFP Industries's previous quarterly dividend of $0.20. UFP Industries's payout ratio is 16.38%.

Insider Activity

In other news, CEO Matthew J. Missad sold 5,018 shares of the business's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total value of $572,302.90. Following the completion of the transaction, the chief executive officer now owns 363,328 shares of the company's stock, valued at approximately $41,437,558.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UFPI. Stifel Nicolaus raised their price target on UFP Industries from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Benchmark raised their price target on UFP Industries from $120.00 to $137.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. Wedbush reissued a "neutral" rating and set a $102.00 price target on shares of UFP Industries in a research note on Thursday, February 22nd. Finally, StockNews.com raised UFP Industries from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, UFP Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.00.

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.