Picton Mahoney Asset Management Purchases 21,880 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Picton Mahoney Asset Management boosted its position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 18.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 140,161 shares of the construction company's stock after purchasing an additional 21,880 shares during the quarter. Picton Mahoney Asset Management owned about 0.23% of UFP Industries worth $15,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised 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 worth $214,604,000 after purchasing an additional 193,891 shares during the last quarter. Geode Capital Management LLC raised its holdings in UFP Industries by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company's stock worth $200,553,000 after purchasing an additional 14,857 shares during the last quarter. Franklin Resources Inc. raised its holdings in UFP Industries by 18.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company's stock worth $169,675,000 after purchasing an additional 188,969 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of UFP Industries by 3.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock worth $102,158,000 after buying an additional 31,381 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of UFP Industries by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 772,001 shares of the construction company's stock worth $86,966,000 after buying an additional 2,160 shares during the period. 81.81% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms have recently issued reports on UFPI. StockNews.com lowered UFP Industries from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Benchmark restated 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 given a buy rating to the stock. According to MarketBeat.com, UFP Industries has a consensus rating of "Moderate Buy" and an average price target of $143.00.

UFP Industries Stock Up 0.5 %

Shares of UFPI traded up $0.52 on Wednesday, hitting $108.09. The company's stock had a trading volume of 406,961 shares, compared to its average volume of 281,807. 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's fifty day moving average price is $112.29 and its 200-day moving average price is $121.52. UFP Industries, Inc. has a fifty-two week low of $102.35 and a fifty-two week high of $141.33. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 15.97 and a beta of 1.52.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings data 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). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. On average, equities research analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. 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 1.30%. UFP Industries's 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.