State of Wyoming bought a new stake in UFP Industries, Inc. (NASDAQ:UFPI – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,260 shares of the construction company’s stock, valued at approximately $568,000.
Other hedge funds have also made changes to their positions in the company. IAG Wealth Partners LLC purchased a new stake in shares of UFP Industries in the first quarter valued at about $28,000. Root Financial Partners LLC raised its holdings in UFP Industries by 86.0% during the first quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock worth $29,000 after purchasing an additional 148 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after purchasing an additional 114 shares during the period. Danske Bank A S lifted its position in UFP Industries by 300.0% in the fourth quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in UFP Industries by 117.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock valued at $38,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.
UFP Industries Price Performance
UFPI stock opened at $89.87 on Monday. The company has a 50 day moving average price of $87.58 and a two-hundred day moving average price of $91.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98. The stock has a market capitalization of $4.96 billion, a P/E ratio of 20.61 and a beta of 1.23. UFP Industries, Inc. has a one year low of $77.89 and a one year high of $118.00.
UFP Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. UFP Industries’s dividend payout ratio is presently 33.03%.
Analyst Upgrades and Downgrades
UFPI has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a report on Monday, May 11th. BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a research report on Tuesday, May 5th. Benchmark cut their price target 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. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. Finally, DA Davidson lowered their target price on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.75.
Read Our Latest Research Report on UFP Industries
UFP Industries 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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