Envestnet Asset Management Inc. Acquires 8,738 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Envestnet Asset Management Inc. grew its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,915 shares of the construction company’s stock after purchasing an additional 8,738 shares during the period. Envestnet Asset Management Inc. owned approximately 0.23% of UFP Industries worth $14,869,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in UFPI. Putney Financial Group LLC purchased a new stake in UFP Industries in the fourth quarter worth $30,000. Kapitalo Investimentos Ltda purchased a new stake in shares of UFP Industries during the fourth quarter valued at $61,000. UMB Bank n.a. boosted its holdings in UFP Industries by 182.1% in the first quarter. UMB Bank n.a. now owns 567 shares of the construction company’s stock valued at $61,000 after purchasing an additional 366 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in UFP Industries in the fourth quarter valued at $160,000. Finally, GAMMA Investing LLC boosted its stake in shares of UFP Industries by 107.5% during the 1st quarter. GAMMA Investing LLC now owns 1,500 shares of the construction company’s stock worth $161,000 after acquiring an additional 777 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Down 1.3%

UFPI stock opened at $101.06 on Friday. The firm has a market cap of $6.10 billion, a P/E ratio of 16.54 and a beta of 1.47. UFP Industries, Inc. has a 52-week low of $93.00 and a 52-week high of $141.33. The company’s 50-day simple moving average is $100.22 and its 200-day simple moving average is $106.04. The company has a quick ratio of 3.44, a current ratio of 4.96 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Monday, April 28th. The construction company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.27). The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a net margin of 5.64% and a return on equity of 11.78%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.96 EPS. As a group, equities analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.39%. UFP Industries’s dividend payout ratio is currently 22.91%.

UFP Industries 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.