Raymond James Financial Inc. Takes $30.46 Million Position in UFP Industries, Inc. (NASDAQ:UFPI)

Raymond James Financial Inc. purchased a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 270,371 shares of the construction company’s stock, valued at approximately $30,457,000. Raymond James Financial Inc. owned 0.45% of UFP Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its stake in UFP Industries by 357.8% in the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after purchasing an additional 415 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in UFP Industries by 1,683.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after purchasing an additional 505 shares during the last quarter. Principal Securities Inc. grew its holdings in UFP Industries by 39.8% in the 4th quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock valued at $69,000 after buying an additional 175 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of UFP Industries during the 4th quarter worth about $106,000. Finally, Blue Trust Inc. grew its holdings in UFP Industries by 62.1% in the fourth quarter. Blue Trust Inc. now owns 1,796 shares of the construction company’s stock valued at $202,000 after purchasing an additional 688 shares during the period. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Trading Up 1.2 %

NASDAQ:UFPI opened at $104.78 on Friday. UFP Industries, Inc. has a 12 month low of $99.42 and a 12 month high of $141.33. The business’s 50-day moving average is $107.97 and its two-hundred day moving average is $118.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The firm has a market capitalization of $6.37 billion, a PE ratio of 15.48 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. Research analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.34%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. UFP Industries’s dividend payout ratio (DPR) is presently 20.68%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UFPI. StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark restated a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, UFP Industries has a consensus rating of “Moderate Buy” and an average target price of $143.00.

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.