UFP Industries, Inc. (NASDAQ:UFPI) Holdings Boosted by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. increased its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 39.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,546,745 shares of the construction company's stock after purchasing an additional 435,155 shares during the period. T. Rowe Price Investment Management Inc. owned 2.55% of UFP Industries worth $174,241,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc grew its stake 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 worth $213,000 after purchasing an additional 97 shares in the last quarter. Robertson Stephens Wealth Management LLC boosted its stake 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 acquiring an additional 104 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake 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 acquiring an additional 104 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake 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 acquiring an additional 105 shares during the period. Finally, Highland Capital Management LLC boosted its stake in UFP Industries by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 2,222 shares of the construction company's stock valued at $250,000 after acquiring an additional 138 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Performance

Shares of UFPI traded down $5.16 during mid-day trading on Tuesday, reaching $101.43. 361,849 shares of the company's stock traded hands, compared to its average volume of 323,456. The business's 50-day moving average price is $106.74 and its 200-day moving average price is $117.33. The stock has a market capitalization of $6.17 billion, a P/E ratio of 14.86 and a beta of 1.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. UFP Industries, Inc. has a 12 month low of $97.66 and a 12 month high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its earnings results on Monday, April 28th. The construction company reported $1.30 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.27). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm earned $1.96 EPS. UFP Industries's revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.35 dividend. This is a positive change from UFP Industries's previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 1.38%. UFP Industries's payout ratio is 20.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UFPI. StockNews.com downgraded UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark restated a "buy" rating and issued a $135.00 target price on shares of UFP Industries in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, UFP Industries has a consensus rating of "Moderate Buy" and an average price target of $143.00.

UFP Industries 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.