UFP Industries, Inc. (NASDAQ:UFPI) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC boosted its stake in UFP Industries, Inc. (NASDAQ:UFPIFree Report) by 3.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,207 shares of the construction company’s stock after buying an additional 264 shares during the period. Jennison Associates LLC’s holdings in UFP Industries were worth $1,133,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of UFPI. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in UFP Industries by 4.9% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,566 shares of the construction company’s stock valued at $322,000 after buying an additional 119 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of UFP Industries by 25.6% in the 4th quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock worth $75,000 after acquiring an additional 121 shares during the period. Legacy Trust boosted its stake in shares of UFP Industries by 1.1% in the first quarter. Legacy Trust now owns 11,009 shares of the construction company’s stock valued at $1,354,000 after buying an additional 124 shares in the last quarter. Assetmark Inc. grew its stake in shares of UFP Industries by 17.3% during the 4th quarter. Assetmark Inc. now owns 873 shares of the construction company’s stock worth $110,000 after purchasing an additional 129 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in UFP Industries by 0.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 38,480 shares of the construction company’s stock valued at $4,733,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on UFPI. Benchmark lowered their price target on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.50.

Get Our Latest Research Report on UFPI

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $108.07 on Wednesday. The company has a quick ratio of 3.37, a current ratio of 4.79 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $115.59 and a 200 day simple moving average of $116.37. UFP Industries, Inc. has a fifty-two week low of $90.62 and a fifty-two week high of $128.65. The company has a market cap of $6.67 billion, a PE ratio of 13.44 and a beta of 1.40.

UFP Industries (NASDAQ:UFPIGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.34. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. The business’s revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the business posted $1.98 EPS. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 7.53 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, June 3rd. UFP Industries’s payout ratio is 16.42%.

Insider Transactions at UFP Industries

In other news, CFO Michael R. Cole sold 1,452 shares of UFP Industries stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the transaction, the chief financial officer now directly owns 165,155 shares of the company’s stock, valued at $19,699,688.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Michael R. Cole sold 1,452 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the completion of the transaction, the chief financial officer now owns 165,155 shares of the company’s stock, valued at approximately $19,699,688.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce A. Merino sold 16,472 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total value of $1,941,719.36. Following the completion of the sale, the director now owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The disclosure for this sale can be found here. Insiders have sold 32,687 shares of company stock valued at $3,831,653 in the last quarter. Insiders own 2.58% of the company’s stock.

UFP Industries Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for UFP Industries (NASDAQ:UFPI)

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