First Trust Advisors LP Purchases 16,480 Shares of UFP Industries, Inc. $UFPI

First Trust Advisors LP grew its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 23.1% in the first quarter, HoldingsChannel reports. The fund owned 87,696 shares of the construction company’s stock after acquiring an additional 16,480 shares during the period. First Trust Advisors LP’s holdings in UFP Industries were worth $8,079,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in UFPI. Commonwealth Equity Services LLC lifted its position in shares of UFP Industries by 3.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,197 shares of the construction company’s stock worth $291,000 after purchasing an additional 92 shares in the last quarter. Arkadios Wealth Advisors boosted its holdings in UFP Industries by 2.1% during the fourth quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company’s stock worth $423,000 after purchasing an additional 97 shares during the last quarter. Geneos Wealth Management Inc. grew 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 in the last quarter. SkyView Investment Advisors LLC grew its position in UFP Industries by 1.3% in the fourth quarter. SkyView Investment Advisors LLC now owns 9,133 shares of the construction company’s stock valued at $832,000 after purchasing an additional 114 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in UFP Industries by 1.1% in the 4th quarter. ProShare Advisors LLC now owns 12,972 shares of the construction company’s stock valued at $1,181,000 after buying an additional 145 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings cut shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. DA Davidson decreased their price objective on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, May 1st. Stifel Nicolaus lowered their target price on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a report on Tuesday, May 5th. Finally, Benchmark dropped their target price on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $103.75.

UFP Industries Price Performance

NASDAQ:UFPI opened at $86.74 on Friday. The stock has a market capitalization of $4.90 billion, a PE ratio of 19.89 and a beta of 1.22. UFP Industries, Inc. has a 1-year low of $77.89 and a 1-year high of $118.00. The firm has a fifty day simple moving average of $85.36 and a 200 day simple moving average of $92.98. The company has a current ratio of 3.98, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07.

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

UFP Industries Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.7%. UFP Industries’s payout ratio is currently 33.03%.

About UFP Industries

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.