T. Rowe Price Investment Management Inc. Raises Position in UFP Industries, Inc. (NASDAQ:UFPI)

T. Rowe Price Investment Management Inc. raised its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 39.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,546,745 shares of the construction company's stock after buying an additional 435,155 shares during the period. T. Rowe Price Investment Management Inc. owned about 2.55% of UFP Industries worth $174,241,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in UFPI. Jones Financial Companies Lllp raised its position in shares of UFP Industries by 357.8% during the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company's stock valued at $60,000 after acquiring an additional 415 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of UFP Industries by 1,683.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company's stock valued at $60,000 after acquiring an additional 505 shares in the last quarter. Principal Securities Inc. increased its stake in UFP Industries by 39.8% in the 4th quarter. Principal Securities Inc. now owns 615 shares of the construction company's stock valued at $69,000 after buying an additional 175 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of UFP Industries in the 4th quarter valued at approximately $106,000. Finally, Blue Trust Inc. lifted its stake in shares of UFP Industries by 62.1% in the fourth quarter. Blue Trust Inc. now owns 1,796 shares of the construction company's stock worth $202,000 after buying an additional 688 shares during the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on UFPI shares. StockNews.com cut shares of 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 target on shares of UFP Industries in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $143.00.

UFP Industries Trading Down 1.1 %

UFP Industries stock traded down $1.23 during trading hours on Friday, hitting $106.74. The stock had a trading volume of 195,257 shares, compared to its average volume of 322,852. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a one year low of $99.42 and a one year high of $141.33. The business's 50 day simple moving average is $106.87 and its 200-day simple moving average is $117.66. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of 15.77 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04). The company had revenue of $1.46 billion for 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 analysts predict 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 issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from UFP Industries's previous quarterly dividend of $0.33. UFP Industries's dividend payout ratio (DPR) is 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.