6,209 Shares in UFP Industries, Inc. $UFPI Bought by Hardy Reed LLC

Hardy Reed LLC bought a new position in UFP Industries, Inc. (NASDAQ:UFPI) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 6,209 shares of the construction company’s stock, valued at approximately $563,000.

Other hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of UFP Industries by 3.0% during the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock worth $6,597,000 after acquiring an additional 1,798 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in UFP Industries by 8.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock valued at $317,000 after purchasing an additional 221 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in UFP Industries by 10.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock valued at $13,831,000 after purchasing an additional 12,043 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of UFP Industries by 90.9% during the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock valued at $54,000 after buying an additional 259 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of UFP Industries during the second quarter worth approximately $232,000. 81.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UFPI. Benchmark decreased their price objective on 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 raised UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. Weiss Ratings upgraded UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Stifel Nicolaus decreased their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Finally, BMO Capital Markets raised UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target on the stock in a report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.75.

UFP Industries Stock Performance

Shares of UFPI opened at $89.87 on Friday. The firm’s 50 day moving average is $87.58 and its 200-day moving average is $92.00. The stock has a market capitalization of $4.96 billion, a P/E ratio of 20.61 and a beta of 1.23. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 2.64. UFP Industries, Inc. has a 12-month low of $77.89 and a 12-month high of $118.00.

UFP Industries (NASDAQ:UFPI) last released its earnings results 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 business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.79 billion. Equities research analysts anticipate that UFP Industries, Inc. will post 4.56 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued 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 currently 33.03%.

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.