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

Royce & Associates LP grew its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 11.9% in the third quarter, Holdings Channel reports. The firm owned 921,930 shares of the construction company’s stock after acquiring an additional 98,341 shares during the period. UFP Industries accounts for approximately 0.6% of Royce & Associates LP’s holdings, making the stock its 14th largest position. Royce & Associates LP’s holdings in UFP Industries were worth $71,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of UFP Industries by 7.5% in the third quarter. Russell Investments Group Ltd. now owns 242,417 shares of the construction company’s stock valued at $18,723,000 after purchasing an additional 16,987 shares during the period. Illinois Municipal Retirement Fund grew its stake in 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 purchasing an additional 237 shares in the last quarter. Keybank National Association OH purchased a new position in UFP Industries during the 3rd quarter worth $313,000. Fulcrum Asset Management LLP purchased a new position in UFP Industries during the 3rd quarter worth $81,000. Finally, Heritage Family Offices LLP purchased a new position in UFP Industries during the 3rd quarter worth $79,000. 81.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on UFPI. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 3rd. Oppenheimer began coverage on UFP Industries in a research note on Wednesday, September 30th. They set a “market perform” rating on the stock. Stifel Nicolaus set a $85.00 price objective on UFP Industries and gave the company a “hold” rating in a report on Monday, October 26th. DA Davidson reaffirmed a “buy” rating and issued a $105.00 price objective on shares of UFP Industries in a research note on Tuesday, October 27th. Finally, 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. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $103.25.

UFP Industries Stock Up 0.5%

Shares of UFPI stock traded up $0.39 during trading hours on Friday, reaching $79.49. 256,186 shares of the company’s stock were exchanged, compared to its average volume of 453,860. UFP Industries, Inc. has a 1 year low of $73.72 and a 1 year high of $118.00. The company has a current ratio of 3.86, a quick ratio of 2.58 and a debt-to-equity ratio of 0.07. The stock has a market cap of $4.34 billion, a PE ratio of 19.29 and a beta of 1.14. The stock’s fifty day moving average price is $79.92 and its two-hundred day moving average price is $88.48.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Wednesday, October 28th. The construction company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.15). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.60 billion. UFP Industries had a net margin of 3.61% and a return on equity of 7.53%. Research analysts predict that UFP Industries, Inc. will post 4.18 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.8%. UFP Industries’s payout ratio is presently 34.95%.

UFP Industries Company 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.