Cibc World Markets Corp Acquires Shares of 5,663 UFP Industries, Inc. (NASDAQ:UFPI)

Cibc World Markets Corp purchased a new stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,663 shares of the construction company's stock, valued at approximately $638,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UFPI. FMR LLC grew its holdings in UFP Industries by 13.4% during the 3rd quarter. FMR LLC now owns 1,635,577 shares of the construction company's stock valued at $214,604,000 after buying an additional 193,891 shares in the last quarter. Geode Capital Management LLC grew its stake in UFP Industries by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company's stock valued at $200,553,000 after acquiring an additional 14,857 shares in the last quarter. Franklin Resources Inc. grew its stake in UFP Industries by 18.2% during the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company's stock valued at $169,675,000 after acquiring an additional 188,969 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in UFP Industries by 3.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock worth $102,158,000 after purchasing an additional 31,381 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in UFP Industries by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 772,001 shares of the construction company's stock valued at $86,966,000 after purchasing an additional 2,160 shares during the period. 81.81% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on UFPI shares. Benchmark reaffirmed a "buy" rating and issued a $135.00 price target on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com cut UFP Industries from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, UFP Industries has an average rating of "Moderate Buy" and a consensus target price of $143.00.

UFP Industries Price Performance

NASDAQ UFPI traded up $0.26 during trading hours on Wednesday, reaching $110.25. 340,241 shares of the stock traded hands, compared to its average volume of 289,933. The stock has a 50 day simple moving average of $112.07 and a two-hundred day simple moving average of $121.27. UFP Industries, Inc. has a 1 year low of $102.35 and a 1 year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 16.29 and a beta of 1.52.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share 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 firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. On average, analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Monday, March 3rd. This is a boost from UFP Industries's previous quarterly dividend of $0.33. UFP Industries's dividend payout ratio (DPR) 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.