Integrated Quantitative Investments LLC Acquires New Position in UFP Industries, Inc. (NASDAQ:UFPI)

Integrated Quantitative Investments LLC acquired a new stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,850 shares of the construction company's stock, valued at approximately $321,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of UFP Industries during the 4th quarter valued at about $83,149,000. Thrivent Financial for Lutherans grew its position in UFP Industries by 3,820.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company's stock valued at $63,212,000 after acquiring an additional 546,830 shares in the last quarter. Boston Partners raised its stake in shares of UFP Industries by 100.8% during the fourth quarter. Boston Partners now owns 672,231 shares of the construction company's stock valued at $75,736,000 after purchasing an additional 337,463 shares during the period. Raymond James Financial Inc. acquired a new position in shares of UFP Industries during the fourth quarter worth $30,457,000. Finally, Franklin Resources Inc. boosted its stake in shares of UFP Industries by 18.2% in the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company's stock valued at $169,675,000 after purchasing an additional 188,969 shares during the period. Institutional investors and hedge funds own 81.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark restated a "buy" rating and set a $135.00 target price on shares of UFP Industries in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, UFP Industries currently has an average rating of "Moderate Buy" and a consensus target price of $143.00.

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UFP Industries Stock Up 0.6 %

Shares of UFPI stock traded up $0.63 during mid-day trading on Friday, reaching $106.42. 398,487 shares of the company were exchanged, compared to its average volume of 321,293. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The business's 50 day simple moving average is $108.87 and its 200 day simple moving average is $119.46. The company has a market capitalization of $6.47 billion, a P/E ratio of 15.72 and a beta of 1.45. UFP Industries, Inc. has a fifty-two week low of $99.42 and a fifty-two week high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.43 billion. Research analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.35 per share. This is a positive change from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Monday, March 3rd. UFP Industries's dividend payout ratio is currently 20.68%.

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.