KLP Kapitalforvaltning AS Makes New $1.98 Million Investment in UFP Industries, Inc. (NASDAQ:UFPI)

KLP Kapitalforvaltning AS bought a new position 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 bought 17,600 shares of the construction company's stock, valued at approximately $1,983,000.

Other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc grew its stake in shares of UFP Industries by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company's stock valued at $213,000 after buying an additional 97 shares during the period. Robertson Stephens Wealth Management LLC grew its position in UFP Industries by 5.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company's stock valued at $216,000 after acquiring an additional 104 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in UFP Industries by 2.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company's stock worth $494,000 after acquiring an additional 104 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in shares of UFP Industries by 1.8% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company's stock worth $822,000 after purchasing an additional 113 shares during the period. Finally, Highland Capital Management LLC lifted its stake in shares of UFP Industries by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 2,222 shares of the construction company's stock valued at $250,000 after purchasing an additional 138 shares in the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Benchmark reissued a "buy" rating and set a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com downgraded shares of UFP Industries from a "buy" rating to a "hold" rating in a research note 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. Based on data from MarketBeat.com, UFP Industries has a consensus rating of "Moderate Buy" and a consensus price target of $143.00.

UFP Industries Stock Down 0.4 %

Shares of UFPI traded down $0.43 during mid-day trading on Tuesday, reaching $106.61. 308,852 shares of the stock traded hands, compared to its average volume of 308,548. The stock has a fifty day simple moving average of $111.14 and a 200 day simple moving average of $120.99. UFP Industries, Inc. has a 12-month low of $102.35 and a 12-month high of $141.33. 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 $6.48 billion, a price-to-earnings ratio of 15.75 and a beta of 1.52.

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

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.35 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%. This is an increase from UFP Industries's previous quarterly dividend of $0.33. UFP Industries's dividend payout ratio is currently 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.