AXQ Capital LP Takes Position in UFP Industries, Inc. (NASDAQ:UFPI)

AXQ Capital LP bought a new position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,834 shares of the construction company's stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Natixis Advisors LLC grew its stake in shares of UFP Industries by 4.6% in the third quarter. Natixis Advisors LLC now owns 30,639 shares of the construction company's stock worth $4,020,000 after acquiring an additional 1,361 shares during the period. Jennison Associates LLC boosted its holdings in UFP Industries by 7.8% in the third quarter. Jennison Associates LLC now owns 10,054 shares of the construction company's stock worth $1,319,000 after purchasing an additional 727 shares during the last quarter. Intech Investment Management LLC purchased a new stake in UFP Industries in the third quarter worth approximately $1,404,000. Massachusetts Financial Services Co. MA grew its position in UFP Industries by 5.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,760 shares of the construction company's stock worth $1,281,000 after purchasing an additional 521 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in UFP Industries by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company's stock valued at $101,011,000 after buying an additional 4,006 shares during the last quarter. Institutional investors own 81.81% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Benchmark restated a "buy" rating and issued a $135.00 price target on shares of UFP Industries in a research note on Wednesday, February 19th. StockNews.com cut UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $143.00.

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UFP Industries Stock Performance

UFPI traded down $0.16 during trading on Thursday, hitting $110.09. The company's stock had a trading volume of 364,681 shares, compared to its average volume of 290,424. UFP Industries, Inc. has a one year low of $102.35 and a one year high of $141.33. The business's 50 day simple moving average is $111.92 and its 200-day simple moving average is $121.19. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.70 billion, a PE ratio of 16.26 and a beta of 1.52.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its earnings results on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing analysts' consensus estimates of $1.24 by ($0.04). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. As a group, sell-side analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.35 per share. This is a boost from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, March 3rd. UFP Industries's payout ratio is presently 20.68%.

UFP Industries Company 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.