Rafferty Asset Management LLC Increases Position in UFP Industries, Inc. $UFPI

Rafferty Asset Management LLC increased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 112.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,356 shares of the construction company’s stock after acquiring an additional 25,027 shares during the period. Rafferty Asset Management LLC owned about 0.08% of UFP Industries worth $4,427,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of UFPI. Boston Partners grew its stake in UFP Industries by 25.7% in the 2nd quarter. Boston Partners now owns 1,847,503 shares of the construction company’s stock valued at $183,569,000 after purchasing an additional 378,203 shares during the period. Geode Capital Management LLC boosted its holdings in shares of UFP Industries by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,594,161 shares of the construction company’s stock worth $158,413,000 after buying an additional 37,534 shares during the last quarter. Wasatch Advisors LP grew its position in UFP Industries by 5.1% during the second quarter. Wasatch Advisors LP now owns 1,408,538 shares of the construction company’s stock valued at $139,952,000 after buying an additional 67,849 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in UFP Industries by 1.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,223,441 shares of the construction company’s stock worth $113,743,000 after buying an additional 15,648 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in UFP Industries by 2.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 790,648 shares of the construction company’s stock worth $78,559,000 after acquiring an additional 20,387 shares during the period. 81.81% of the stock is currently owned by institutional investors.

Insider Transactions at UFP Industries

In other UFP Industries news, Chairman Matthew J. Missad sold 11,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the transaction, the chairman owned 310,533 shares in the company, valued at $28,649,774.58. This trade represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.56% of the company’s stock.

Analyst Ratings Changes

UFPI has been the subject of a number of research reports. DA Davidson reissued a “buy” rating and set a $112.00 target price on shares of UFP Industries in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Finally, Stifel Nicolaus set a $98.00 target price on UFP Industries in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $107.33.

UFP Industries Stock Performance

Shares of UFPI stock opened at $99.49 on Wednesday. The firm’s 50 day moving average is $104.14 and its 200 day moving average is $97.73. The stock has a market capitalization of $5.63 billion, a P/E ratio of 19.94 and a beta of 1.48. UFP Industries, Inc. has a 12 month low of $87.11 and a 12 month high of $118.00. The company has a current ratio of 4.59, a quick ratio of 3.13 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.33). UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm earned $1.12 EPS. The company’s revenue was down 9.0% compared to the same quarter last year. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.36 per share. This is a positive change from UFP Industries’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 1.4%. UFP Industries’s payout ratio is currently 28.86%.

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.