Geode Capital Management LLC Purchases 37,534 Shares of UFP Industries, Inc. $UFPI

Geode Capital Management LLC lifted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 2.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,594,161 shares of the construction company’s stock after acquiring an additional 37,534 shares during the quarter. Geode Capital Management LLC’s holdings in UFP Industries were worth $158,413,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in UFP Industries by 39.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock worth $45,000 after buying an additional 119 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in UFP Industries in the 2nd quarter worth approximately $59,000. Signaturefd LLC lifted its holdings in shares of UFP Industries by 222.5% in the 1st quarter. Signaturefd LLC now owns 816 shares of the construction company’s stock worth $87,000 after acquiring an additional 563 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of UFP Industries in the 2nd quarter valued at about $91,000. Finally, Covestor Ltd increased its stake in UFP Industries by 20.4% in the 1st quarter. Covestor Ltd now owns 886 shares of the construction company’s stock worth $94,000 after purchasing an additional 150 shares during the period. Institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Up 0.4%

UFPI stock opened at $88.76 on Wednesday. The business’s 50-day moving average price is $92.76 and its 200-day moving average price is $97.91. The stock has a market cap of $5.17 billion, a P/E ratio of 16.41 and a beta of 1.43. UFP Industries, Inc. has a twelve month low of $87.11 and a twelve month high of $141.33. The company has a quick ratio of 3.16, a current ratio of 4.54 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.08). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.16%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 earnings per share. On average, equities research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Monday, December 1st. UFP Industries’s payout ratio is presently 25.88%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on UFPI shares. DA Davidson upgraded shares of UFP Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $110.00 to $112.00 in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research report on Thursday, October 30th. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. Stifel Nicolaus set a $95.00 price objective on shares of UFP Industries and gave the stock a “hold” rating in a report on Wednesday, October 8th. Finally, Loop Capital assumed coverage on UFP Industries in a research note on Wednesday, July 23rd. They set a “hold” rating and a $112.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $113.50.

UFP Industries 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.