Oppenheimer Asset Management Inc. Grows Position in UFP Industries, Inc. $UFPI

Oppenheimer Asset Management Inc. increased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 19.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,147 shares of the construction company’s stock after purchasing an additional 2,814 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in UFP Industries were worth $1,704,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MQS Management LLC acquired a new position in UFP Industries in the second quarter valued at about $374,000. State of New Jersey Common Pension Fund D raised its stake in shares of UFP Industries by 5.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 19,280 shares of the construction company’s stock valued at $1,916,000 after acquiring an additional 911 shares during the period. AlphaQuest LLC acquired a new position in shares of UFP Industries in the 2nd quarter worth approximately $91,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of UFP Industries by 24.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock worth $52,000 after acquiring an additional 102 shares during the last quarter. Finally, Vista Finance LLC boosted its position in shares of UFP Industries by 4.1% during the 2nd quarter. Vista Finance LLC now owns 2,671 shares of the construction company’s stock worth $265,000 after purchasing an additional 104 shares during the period. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Trading Up 2.0%

NASDAQ:UFPI opened at $91.80 on Friday. UFP Industries, Inc. has a 12-month low of $88.78 and a 12-month high of $141.33. The firm has a market cap of $5.38 billion, a PE ratio of 16.97 and a beta of 1.45. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $95.75 and a 200 day moving average price of $99.18.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.16%. UFP Industries’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.64 EPS. Sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.40 annualized dividend and a yield of 1.5%. UFP Industries’s dividend payout ratio (DPR) is 25.88%.

Analysts Set New Price Targets

A number of analysts have issued reports on UFPI shares. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, October 17th. Loop Capital assumed coverage on UFP Industries in a research note on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price objective for the company. Stifel Nicolaus set a $95.00 price objective on UFP Industries and gave the company a “hold” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday. 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $124.25.

UFP Industries Company 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.