Cubist Systematic Strategies LLC Acquires 42,341 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Cubist Systematic Strategies LLC lifted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 289.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,966 shares of the construction company's stock after purchasing an additional 42,341 shares during the quarter. Cubist Systematic Strategies LLC owned 0.09% of UFP Industries worth $6,380,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in UFPI. UBS Group AG boosted its position in UFP Industries by 16.5% during the 4th quarter. UBS Group AG now owns 82,195 shares of the construction company's stock worth $10,320,000 after buying an additional 11,664 shares during the period. Corient Private Wealth LLC boosted its position in UFP Industries by 26.5% during the 4th quarter. Corient Private Wealth LLC now owns 16,832 shares of the construction company's stock worth $2,113,000 after buying an additional 3,525 shares during the period. Assetmark Inc. boosted its position in UFP Industries by 17.3% during the 4th quarter. Assetmark Inc. now owns 873 shares of the construction company's stock worth $110,000 after buying an additional 129 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in UFP Industries during the 4th quarter worth approximately $278,000. Finally, Stifel Financial Corp boosted its position in UFP Industries by 194.1% during the 4th quarter. Stifel Financial Corp now owns 85,532 shares of the construction company's stock worth $10,738,000 after buying an additional 56,453 shares during the period. 81.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on UFPI shares. Wedbush reiterated a "neutral" rating and set a $120.00 target price (up from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. StockNews.com downgraded shares of UFP Industries from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 5th. BMO Capital Markets boosted their price target on shares of UFP Industries from $115.00 to $125.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 31st. Benchmark boosted their price target on shares of UFP Industries from $133.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $132.60.

UFP Industries Stock Up 0.4 %

UFP Industries stock opened at $129.61 on Friday. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12-month low of $90.62 and a 12-month high of $136.93. The firm's fifty day moving average is $122.00 and its 200 day moving average is $118.20. The company has a market capitalization of $7.90 billion, a PE ratio of 16.12 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company earned $2.36 EPS. UFP Industries's quarterly revenue was down 6.9% compared to the same quarter last year. As a group, sell-side analysts predict that UFP Industries, Inc. will post 7.27 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.02%. UFP Industries's payout ratio is presently 16.42%.

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.