AE Wealth Management LLC Acquires New Stake in UFP Industries, Inc. (NASDAQ:UFPI)

AE Wealth Management LLC acquired a new stake in UFP Industries, Inc. (NASDAQ:UFPI) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,853 shares of the construction company’s stock, valued at approximately $305,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Putney Financial Group LLC acquired a new stake in UFP Industries in the fourth quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in UFP Industries during the 1st quarter worth about $36,000. Kapitalo Investimentos Ltda acquired a new stake in UFP Industries during the 4th quarter worth about $61,000. UMB Bank n.a. grew its holdings in UFP Industries by 182.1% during the 1st quarter. UMB Bank n.a. now owns 567 shares of the construction company’s stock worth $61,000 after acquiring an additional 366 shares during the period. Finally, Signaturefd LLC grew its holdings in UFP Industries by 222.5% during the 1st quarter. Signaturefd LLC now owns 816 shares of the construction company’s stock worth $87,000 after acquiring an additional 563 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Loop Capital started coverage on UFP Industries in a report on Wednesday, July 23rd. They set a “hold” rating and a $112.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.80.

UFP Industries Stock Performance

Shares of UFP Industries stock opened at $99.67 on Thursday. The company has a current ratio of 4.54, a quick ratio of 3.44 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $100.46 and a two-hundred day moving average price of $105.62. UFP Industries, Inc. has a 1-year low of $93.00 and a 1-year high of $141.33. The company has a market cap of $6.02 billion, a P/E ratio of 17.30 and a beta of 1.47.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.25). The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.85 billion. UFP Industries had a return on equity of 10.95% and a net margin of 5.31%. UFP Industries’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $2.05 EPS. As a group, analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.40%. UFP Industries’s dividend payout ratio (DPR) is presently 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.