JPMorgan Chase & Co. lifted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 698,684 shares of the construction company's stock after acquiring an additional 67,280 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.15% of UFP Industries worth $78,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in UFPI. Cerity Partners LLC lifted its position in shares of UFP Industries by 194.1% during the 3rd quarter. Cerity Partners LLC now owns 6,332 shares of the construction company's stock valued at $831,000 after acquiring an additional 4,179 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of UFP Industries by 2.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,642 shares of the construction company's stock valued at $1,790,000 after purchasing an additional 354 shares during the period. Walleye Capital LLC bought a new position in shares of UFP Industries during the 3rd quarter worth about $556,000. Paloma Partners Management Co acquired a new stake in shares of UFP Industries in the 3rd quarter valued at about $474,000. Finally, Benjamin Edwards Inc. boosted its holdings in UFP Industries by 11.8% in the third quarter. Benjamin Edwards Inc. now owns 2,849 shares of the construction company's stock worth $375,000 after acquiring an additional 301 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.
UFP Industries Price Performance
Shares of UFPI traded down $3.21 during midday trading on Tuesday, reaching $100.97. The stock had a trading volume of 747,117 shares, compared to its average volume of 318,257. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 14.91 and a beta of 1.45. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12-month low of $99.58 and a 12-month high of $141.33. The company's 50-day moving average is $109.60 and its 200 day moving average is $120.03.
UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. On average, equities analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.
UFP Industries Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.39%. This is a boost from UFP Industries's previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. UFP Industries's dividend payout ratio (DPR) is currently 20.68%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. StockNews.com lowered shares of UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark reaffirmed a "buy" rating and set a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, UFP Industries currently has an average rating of "Moderate Buy" and an average target price of $143.00.
Check Out Our Latest Research Report on UFPI
UFP Industries Company Profile
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Free Report)
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.
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