Edgestream Partners L.P. Makes New $713,000 Investment in UFP Industries, Inc. $UFPI

Edgestream Partners L.P. purchased a new stake in UFP Industries, Inc. (NASDAQ:UFPI) during the first quarter, Holdings Channel reports. The institutional investor purchased 7,736 shares of the construction company’s stock, valued at approximately $713,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Flagship Capital Management Inc. purchased a new stake in shares of UFP Industries during the 4th quarter worth approximately $1,550,000. Horizon Investments LLC purchased a new position in UFP Industries during the 4th quarter worth approximately $1,120,000. K.J. Harrison & Partners Inc acquired a new position in UFP Industries during the fourth quarter worth approximately $1,093,000. Vanguard Group Inc. increased its position in UFP Industries by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,117,218 shares of the construction company’s stock worth $556,973,000 after buying an additional 17,016 shares during the period. Finally, Teacher Retirement System of Texas lifted its stake in UFP Industries by 15.2% in the fourth quarter. Teacher Retirement System of Texas now owns 80,149 shares of the construction company’s stock valued at $7,298,000 after buying an additional 10,565 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Price Performance

UFP Industries stock opened at $92.72 on Wednesday. The business has a 50 day simple moving average of $85.81 and a 200-day simple moving average of $92.75. UFP Industries, Inc. has a 12 month low of $77.89 and a 12 month high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64. The stock has a market capitalization of $5.24 billion, a PE ratio of 21.27 and a beta of 1.23.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.79 billion. Equities analysts predict that UFP Industries, Inc. will post 4.56 earnings per share for the current year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 1st. UFP Industries’s payout ratio is 33.03%.

Analyst Upgrades and Downgrades

Several research firms recently commented on UFPI. BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target for the company in a research report on Tuesday, May 5th. DA Davidson lowered their price objective 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. Stifel Nicolaus dropped their price objective on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Weiss Ratings cut shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $103.75.

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.