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

Raymond James Financial Inc. bought a new position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 270,371 shares of the construction company's stock, valued at approximately $30,457,000. Raymond James Financial Inc. owned approximately 0.45% of UFP Industries at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of UFP Industries during the 4th quarter worth approximately $83,149,000. Thrivent Financial for Lutherans raised its stake in UFP Industries by 3,820.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company's stock valued at $63,212,000 after purchasing an additional 546,830 shares in the last quarter. Boston Partners grew its stake in shares of UFP Industries by 100.8% in the 4th quarter. Boston Partners now owns 672,231 shares of the construction company's stock worth $75,736,000 after buying an additional 337,463 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company's stock worth $169,675,000 after buying an additional 188,969 shares in the last quarter. Finally, FMR LLC raised its position in shares of UFP Industries by 7.1% during the 4th quarter. FMR LLC now owns 1,751,264 shares of the construction company's stock valued at $197,280,000 after buying an additional 115,687 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on UFPI shares. Benchmark restated a "buy" rating and issued a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com cut 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 issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $143.00.

UFP Industries Stock Up 2.5 %

UFPI stock traded up $2.61 during trading on Wednesday, hitting $108.68. 50,965 shares of the company's stock traded hands, compared to its average volume of 322,265. 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 capitalization of $6.61 billion, a P/E ratio of 16.05 and a beta of 1.45. UFP Industries, Inc. has a 1 year low of $99.42 and a 1 year high of $141.33. The business has a fifty day simple moving average of $107.39 and a two-hundred day simple moving average of $118.22.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its 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). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. Sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The firm also recently announced 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 a positive change from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.29%. The ex-dividend date was Monday, March 3rd. UFP Industries's dividend 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.