Wedge Capital Management L L P NC Has $7.93 Million Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Wedge Capital Management L L P NC lessened its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 11.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,422 shares of the construction company’s stock after selling 7,597 shares during the period. Wedge Capital Management L L P NC owned approximately 0.10% of UFP Industries worth $7,928,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Henrickson Nauta Wealth Advisors Inc. grew its holdings in shares of UFP Industries by 82.3% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock worth $29,007,000 after purchasing an additional 114,166 shares during the last quarter. AQR Capital Management LLC grew its stake in UFP Industries by 22.7% during the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock worth $67,594,000 after buying an additional 112,518 shares during the last quarter. Picton Mahoney Asset Management increased its holdings in shares of UFP Industries by 103.3% during the second quarter. Picton Mahoney Asset Management now owns 115,549 shares of the construction company’s stock worth $12,941,000 after buying an additional 58,724 shares in the last quarter. F M Investments LLC acquired a new position in shares of UFP Industries in the 2nd quarter worth approximately $6,028,000. Finally, Cubist Systematic Strategies LLC grew its position in UFP Industries by 289.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 56,966 shares of the construction company’s stock worth $6,380,000 after acquiring an additional 42,341 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Ratings Changes

UFPI has been the subject of several research reports. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Wedbush upgraded UFP Industries from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $120.00 to $155.00 in a research report on Tuesday, October 8th. Stifel Nicolaus boosted their target price on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets raised their price target on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Finally, Benchmark boosted their price objective on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.60.

UFP Industries Trading Up 1.1 %

UFPI opened at $138.40 on Tuesday. The firm has a market cap of $8.43 billion, a PE ratio of 17.90 and a beta of 1.39. UFP Industries, Inc. has a twelve month low of $90.62 and a twelve month high of $139.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. The firm’s fifty day moving average is $123.89 and its two-hundred day moving average is $119.52.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.36 earnings per share. Equities research analysts anticipate that UFP Industries, Inc. will post 7.29 EPS for the current year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a yield of 0.95%. UFP Industries’s payout ratio is 17.08%.

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.