Meritage Portfolio Management Purchases 251 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Meritage Portfolio Management grew its position in UFP Industries, Inc. (NASDAQ:UFPI) by 5.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,686 shares of the construction company’s stock after buying an additional 251 shares during the quarter. Meritage Portfolio Management’s holdings in UFP Industries were worth $502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in UFPI. Norges Bank acquired a new stake in shares of UFP Industries in the 4th quarter valued at $83,149,000. Thrivent Financial for Lutherans lifted its position in shares of UFP Industries by 3,820.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company’s stock worth $63,212,000 after buying an additional 546,830 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in UFP Industries by 39.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company’s stock valued at $174,241,000 after buying an additional 435,155 shares in the last quarter. Boston Partners grew its position in UFP Industries by 100.8% in the fourth quarter. Boston Partners now owns 672,231 shares of the construction company’s stock valued at $75,736,000 after acquiring an additional 337,463 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in UFP Industries during the fourth quarter worth about $30,457,000. Institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Down 0.7%

UFPI opened at $105.75 on Friday. The company has a market cap of $6.39 billion, a P/E ratio of 17.31 and a beta of 1.47. The company has a current ratio of 4.96, a quick ratio of 3.44 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $99.38 and its 200-day moving average is $106.80. UFP Industries, Inc. has a 1-year low of $93.00 and a 1-year high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.27). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a return on equity of 11.78% and a net margin of 5.64%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.96 EPS. Equities research analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, June 2nd. UFP Industries’s dividend payout ratio (DPR) is currently 22.91%.

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.