UFP Industries, Inc. $UFPI Position Lifted by Royce & Associates LP

Royce & Associates LP boosted its position in UFP Industries, Inc. (NASDAQ:UFPI) by 11.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 921,930 shares of the construction company’s stock after purchasing an additional 98,341 shares during the quarter. UFP Industries makes up 0.6% of Royce & Associates LP’s portfolio, making the stock its 14th biggest position. Royce & Associates LP owned approximately 1.69% of UFP Industries worth $71,191,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in UFPI. GAMMA Investing LLC raised its stake in UFP Industries by 15.0% during the third quarter. GAMMA Investing LLC now owns 1,004 shares of the construction company’s stock valued at $78,000 after buying an additional 131 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of UFP Industries by 3.6% in the first quarter. Cetera Investment Advisers now owns 5,593 shares of the construction company’s stock worth $515,000 after acquiring an additional 194 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of UFP Industries by 1.4% in the first quarter. State of Michigan Retirement System now owns 14,000 shares of the construction company’s stock worth $1,290,000 after acquiring an additional 200 shares during the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of UFP Industries by 1.4% in the third quarter. Illinois Municipal Retirement Fund now owns 17,482 shares of the construction company’s stock worth $1,350,000 after acquiring an additional 237 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of UFP Industries by 8.2% in the third quarter. Fifth Third Wealth Advisors LLC now owns 3,338 shares of the construction company’s stock worth $258,000 after acquiring an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

UFPI traded up $0.39 during trading on Friday, hitting $79.49. The company’s stock had a trading volume of 256,186 shares, compared to its average volume of 453,860. The business’s 50 day simple moving average is $79.92 and its 200-day simple moving average is $88.48. The firm has a market cap of $4.34 billion, a PE ratio of 19.29 and a beta of 1.14. UFP Industries, Inc. has a one year low of $73.72 and a one year high of $118.00. The company has a quick ratio of 2.58, a current ratio of 3.86 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, October 28th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.15). UFP Industries had a net margin of 3.61% and a return on equity of 7.53%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.60 billion. As a group, sell-side analysts predict that UFP Industries, Inc. will post 4.18 EPS for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, December 1st. UFP Industries’s payout ratio is currently 34.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus set a $85.00 price target on UFP Industries and gave the stock a “hold” rating in a research report on Monday, October 26th. Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 3rd. DA Davidson reissued a “buy” rating and set a $105.00 price objective on shares of UFP Industries in a research report on Tuesday, October 27th. Weiss Ratings lowered shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, October 12th. Finally, Oppenheimer assumed coverage on shares of UFP Industries in a report on Wednesday, September 30th. They issued a “market perform” rating for the company. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, UFP Industries has an average rating of “Hold” and an average target price of $103.25.

UFP Industries Profile

UFP Industries, Inc. is a manufacturer and distributor of wood and other materials used in construction, packaging and retail products. Founded in 1955 as Universal Forest Products, the company adopted its current name in 2020. Its businesses supply products such as lumber, decking and other outdoor-living materials; pallets, crates and custom industrial packaging; and components for residential and commercial construction. UFP also serves customers in manufactured housing and other building-related markets.