FORA Capital LLC Boosts Stake in UFP Industries, Inc. (NASDAQ:UFPI)

FORA Capital LLC grew its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 43.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,715 shares of the construction company’s stock after purchasing an additional 1,131 shares during the quarter. FORA Capital LLC’s holdings in UFP Industries were worth $487,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in UFP Industries by 0.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock worth $361,155,000 after buying an additional 28,601 shares in the last quarter. FMR LLC raised its holdings in shares of UFP Industries by 13.4% during the 3rd quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock worth $214,604,000 after acquiring an additional 193,891 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of UFP Industries by 3.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock valued at $116,467,000 after acquiring an additional 32,555 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of UFP Industries by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock valued at $101,011,000 after purchasing an additional 4,006 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of UFP Industries by 22.7% in the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after purchasing an additional 112,518 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Matthew J. Missad sold 15,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 314,450 shares of the company’s stock, valued at approximately $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.58% of the company’s stock.

UFP Industries Stock Performance

Shares of UFPI stock opened at $135.26 on Friday. UFP Industries, Inc. has a one year low of $107.49 and a one year high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. The firm’s 50 day moving average price is $131.53 and its 200-day moving average price is $122.86. The firm has a market cap of $8.21 billion, a P/E ratio of 18.61 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.25). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. As a group, equities research analysts predict that UFP Industries, Inc. will post 6.88 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 0.98%. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

Analysts Set New Price Targets

Several equities analysts have weighed in on UFPI shares. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Monday. Wedbush reiterated an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and an average target price of $148.00.

About UFP Industries

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.