World Investment Advisors Acquires New Position in UFP Industries, Inc. $UFPI

World Investment Advisors bought a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,963 shares of the construction company’s stock, valued at approximately $394,000.

Several other institutional investors have also modified their holdings of UFPI. Allianz Asset Management GmbH grew its position in shares of UFP Industries by 10.2% during the second quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company’s stock worth $24,767,000 after buying an additional 23,152 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in UFP Industries by 4.4% in the second quarter. Mutual of America Capital Management LLC now owns 166,340 shares of the construction company’s stock worth $16,528,000 after acquiring an additional 7,063 shares during the last quarter. Nordea Investment Management AB grew its holdings in UFP Industries by 0.7% during the 2nd quarter. Nordea Investment Management AB now owns 111,584 shares of the construction company’s stock worth $11,094,000 after acquiring an additional 759 shares in the last quarter. XTX Topco Ltd grew its holdings in UFP Industries by 548.2% during the 1st quarter. XTX Topco Ltd now owns 19,717 shares of the construction company’s stock worth $2,111,000 after acquiring an additional 16,675 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of UFP Industries in the 2nd quarter valued at approximately $355,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Price Performance

UFPI stock opened at $92.79 on Tuesday. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $5.43 billion, a P/E ratio of 17.15 and a beta of 1.45. The business has a 50 day simple moving average of $95.19 and a 200-day simple moving average of $98.92. UFP Industries, Inc. has a twelve month low of $88.78 and a twelve month high of $141.33.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.08). The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.16%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. As a group, equities analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, December 1st. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. UFP Industries’s dividend payout ratio is 25.88%.

Wall Street Analysts Forecast Growth

UFPI has been the subject of a number of analyst reports. Loop Capital started coverage on shares of UFP Industries in a research note on Wednesday, July 23rd. They set a “hold” rating and a $112.00 target price for the company. Stifel Nicolaus set a $95.00 price objective on UFP Industries and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a report on Friday, October 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research report on Thursday, October 30th. Finally, DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $112.00 in a research note on Friday. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries has an average rating of “Hold” and an average price target of $113.50.

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.