Oppenheimer Asset Management Inc. Buys New Shares in UFP Industries, Inc. $UFPI

Oppenheimer Asset Management Inc. purchased a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 16,369 shares of the construction company’s stock, valued at approximately $1,485,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of UFPI. IAG Wealth Partners LLC bought a new position in shares of UFP Industries in the first quarter worth about $28,000. Root Financial Partners LLC grew its stake in shares of UFP Industries by 86.0% during the 1st quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock valued at $29,000 after acquiring an additional 148 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of UFP Industries by 54.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after acquiring an additional 114 shares during the period. Danske Bank A S increased its holdings in UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in UFP Industries by 117.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock worth $38,000 after acquiring an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on UFPI shares. Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Stifel Nicolaus reduced their price objective on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research note on Monday, May 11th. BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective on the stock in a research report on Tuesday, May 5th. Benchmark lowered their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, DA Davidson lowered their target price on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.75.

UFP Industries Price Performance

NASDAQ UFPI opened at $89.87 on Monday. The stock’s 50 day moving average is $87.58 and its 200 day moving average is $91.92. The company has a current ratio of 3.98, a quick ratio of 2.64 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12 month low of $77.89 and a 12 month high of $118.00. The stock has a market cap of $4.96 billion, a PE ratio of 20.61 and a beta of 1.23.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, July 29th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. The business had revenue of $1.88 billion during 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%. Research analysts predict that UFP Industries, Inc. will post 4.56 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.6%. UFP Industries’s dividend payout ratio is currently 33.03%.

UFP Industries Company Profile

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.