Royce & Associates LP lifted its stake in UFP Industries, Inc. (NASDAQ:UFPI – Free Report) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 806,395 shares of the construction company’s stock after purchasing an additional 38,021 shares during the period. UFP Industries accounts for 0.7% of Royce & Associates LP’s portfolio, making the stock its 11th largest position. Royce & Associates LP’s holdings in UFP Industries were worth $73,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of UFPI. Legato Capital Management LLC raised its position in shares of UFP Industries by 24.5% during the 4th quarter. Legato Capital Management LLC now owns 13,442 shares of the construction company’s stock valued at $1,224,000 after acquiring an additional 2,641 shares during the last quarter. Global Retirement Partners LLC lifted its position in UFP Industries by 3,090.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,308 shares of the construction company’s stock valued at $119,000 after acquiring an additional 1,267 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in UFP Industries in the 4th quarter valued at $1,457,000. IFP Advisors Inc lifted its position in UFP Industries by 84.8% in the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after acquiring an additional 190 shares in the last quarter. Finally, Covestor Ltd increased its stake in UFP Industries by 85.4% in the 4th quarter. Covestor Ltd now owns 1,433 shares of the construction company’s stock valued at $131,000 after buying an additional 660 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.
UFP Industries Stock Performance
NASDAQ UFPI opened at $80.54 on Tuesday. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $4.55 billion, a P/E ratio of 17.59 and a beta of 1.29. UFP Industries, Inc. has a 12-month low of $77.89 and a 12-month high of $118.00. The firm has a 50-day moving average price of $89.30 and a two-hundred day moving average price of $95.28.
UFP Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.8%. UFP Industries’s payout ratio is currently 31.44%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on UFPI shares. DA Davidson lowered their price target on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price for the company in a report on Tuesday, May 5th. Benchmark reduced their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. Finally, Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $105.40.
Read Our Latest Stock Report on UFP Industries
UFP Industries Company Profile
UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.
With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.
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