Vestmark Advisory Solutions Inc. Invests $3.03 Million in UFP Industries, Inc. (NASDAQ:UFPI)

Vestmark Advisory Solutions Inc. purchased a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the fourth quarter, Holdings Channel.com reports. The fund purchased 24,131 shares of the construction company’s stock, valued at approximately $3,030,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UFPI. Kayne Anderson Rudnick Investment Management LLC increased its stake in UFP Industries by 716.7% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock valued at $159,876,000 after buying an additional 1,370,105 shares during the last quarter. Northern Trust Corp increased its position in shares of UFP Industries by 0.9% during the third quarter. Northern Trust Corp now owns 1,111,025 shares of the construction company’s stock valued at $113,769,000 after acquiring an additional 10,326 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in UFP Industries by 31.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 749,259 shares of the construction company’s stock worth $76,724,000 after acquiring an additional 179,323 shares during the period. AQR Capital Management LLC boosted its position in UFP Industries by 93.0% in the third quarter. AQR Capital Management LLC now owns 679,139 shares of the construction company’s stock worth $69,544,000 after purchasing an additional 327,220 shares during the last quarter. Finally, Invesco Ltd. grew its stake in UFP Industries by 24.8% in the 3rd quarter. Invesco Ltd. now owns 381,171 shares of the construction company’s stock valued at $39,032,000 after purchasing an additional 75,711 shares during the period. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UFPI has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Benchmark reduced their target price on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $102.00 price target on shares of UFP Industries in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.20.

UFP Industries Stock Performance

UFP Industries stock traded up $1.16 during midday trading on Friday, reaching $116.65. The stock had a trading volume of 187,885 shares, compared to its average volume of 287,375. The firm has a market capitalization of $7.18 billion, a PE ratio of 14.51 and a beta of 1.47. UFP Industries, Inc. has a 12 month low of $77.47 and a 12 month high of $128.65. The company has a quick ratio of 3.12, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $115.89 and its 200 day moving average price is $113.89.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the firm posted $1.98 earnings per share. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. As a group, research analysts predict that UFP Industries, Inc. will post 7.37 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, June 3rd. UFP Industries’s dividend payout ratio (DPR) is presently 16.42%.

Insider Activity at UFP Industries

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of UFP Industries stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the completion of the transaction, the chief executive officer now owns 363,328 shares of the company’s stock, valued at approximately $41,437,558.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.58% of the stock is currently owned by corporate insiders.

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.