Rafferty Asset Management LLC Increases Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Rafferty Asset Management LLC increased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 25.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,021 shares of the construction company’s stock after purchasing an additional 3,825 shares during the period. Rafferty Asset Management LLC’s holdings in UFP Industries were worth $2,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in UFPI. Norges Bank purchased a new stake in UFP Industries during the 4th quarter worth $83,149,000. Thrivent Financial for Lutherans boosted its position in UFP Industries by 3,820.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company’s stock worth $63,212,000 after purchasing an additional 546,830 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in UFP Industries by 39.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company’s stock worth $174,241,000 after purchasing an additional 435,155 shares during the period. Boston Partners boosted its position in UFP Industries by 100.8% during the 4th quarter. Boston Partners now owns 672,231 shares of the construction company’s stock worth $75,736,000 after purchasing an additional 337,463 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in UFP Industries during the 4th quarter worth $30,457,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on UFPI. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Benchmark reiterated a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. Two investment 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 company has a consensus rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Stock Performance

Shares of UFPI stock opened at $101.29 on Wednesday. UFP Industries, Inc. has a 12 month low of $95.90 and a 12 month 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 firm has a market capitalization of $6.12 billion, a P/E ratio of 14.96 and a beta of 1.54. The company’s fifty day moving average price is $104.60 and its two-hundred day moving average price is $114.09.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.27). The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 EPS. On average, research analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.38%. UFP Industries’s dividend payout ratio (DPR) is presently 22.91%.

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.