Raymond James Financial Inc. Buys Shares of 270,371 UFP Industries, Inc. (NASDAQ:UFPI)

Raymond James Financial Inc. acquired a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 270,371 shares of the construction company's stock, valued at approximately $30,457,000. Raymond James Financial Inc. owned about 0.45% of UFP Industries at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in UFPI. JPMorgan Chase & Co. raised its stake in UFP Industries by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company's stock valued at $82,847,000 after buying an additional 60,859 shares during the last quarter. Citigroup Inc. raised its stake in shares of UFP Industries by 50.7% in the third quarter. Citigroup Inc. now owns 119,426 shares of the construction company's stock worth $15,670,000 after purchasing an additional 40,162 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of UFP Industries by 3.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock worth $102,158,000 after purchasing an additional 31,381 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of UFP Industries by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company's stock worth $101,011,000 after purchasing an additional 4,006 shares during the last quarter. Finally, Seizert Capital Partners LLC raised its stake in shares of UFP Industries by 85.5% in the third quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company's stock worth $4,543,000 after purchasing an additional 15,958 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

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UFP Industries Price Performance

UFPI traded up $0.34 during trading on Tuesday, hitting $107.57. The company's stock had a trading volume of 387,472 shares, compared to its average volume of 281,553. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The business's fifty day simple moving average is $112.33 and its 200 day simple moving average is $121.62. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 15.89 and a beta of 1.52. UFP Industries, Inc. has a twelve month low of $102.35 and a twelve month high of $141.33.

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

UFP Industries Increases Dividend

The business also recently disclosed 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 an increase from UFP Industries's previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.30%. UFP Industries's dividend payout ratio (DPR) is presently 20.68%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UFPI. StockNews.com cut UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark restated a "buy" rating and issued a $135.00 price objective on shares of UFP Industries in a research note on Wednesday, February 19th. Two 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $143.00.

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.