UFP Industries, Inc. (NASDAQ:UFPI) Position Boosted by Fisher Asset Management LLC

Fisher Asset Management LLC increased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 22.3% during the third quarter, Holdings Channel reports. The firm owned 283,806 shares of the construction company’s stock after purchasing an additional 51,809 shares during the period. Fisher Asset Management LLC’s holdings in UFP Industries were worth $37,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in UFPI. Assenagon Asset Management S.A. grew its position in UFP Industries by 216.3% in the third quarter. Assenagon Asset Management S.A. now owns 202,124 shares of the construction company’s stock worth $26,521,000 after buying an additional 138,215 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of UFP Industries by 22.7% in the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock worth $67,594,000 after acquiring an additional 112,518 shares during the last quarter. Picton Mahoney Asset Management raised its position in shares of UFP Industries by 103.3% during the second quarter. Picton Mahoney Asset Management now owns 115,549 shares of the construction company’s stock worth $12,941,000 after purchasing an additional 58,724 shares during the period. F M Investments LLC acquired a new position in shares of UFP Industries in the 2nd quarter valued at $6,028,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of UFP Industries by 289.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 56,966 shares of the construction company’s stock valued at $6,380,000 after purchasing an additional 42,341 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at UFP Industries

In other news, CEO Matthew J. Missad sold 15,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $131.03, for a total transaction of $1,965,450.00. Following the completion of the sale, the chief executive officer now directly owns 314,450 shares of the company’s stock, valued at $41,202,383.50. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on UFPI. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday, November 4th. Benchmark boosted their price target on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets raised their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus boosted their target price on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered UFP Industries from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Price Performance

NASDAQ UFPI opened at $137.53 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 18.92 and a beta of 1.39. The company has a 50 day simple moving average of $131.16 and a 200-day simple moving average of $122.63. UFP Industries, Inc. has a 52-week low of $107.49 and a 52-week high of $141.33.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the company earned $2.10 EPS. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts predict that UFP Industries, Inc. will post 6.89 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 0.96%. UFP Industries’s payout ratio is 18.16%.

UFP Industries Company Profile

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.