Thrivent Financial for Lutherans Raises Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Thrivent Financial for Lutherans raised its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 3,820.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 561,142 shares of the construction company's stock after purchasing an additional 546,830 shares during the period. Thrivent Financial for Lutherans owned 0.92% of UFP Industries worth $63,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cibc World Markets Corp acquired a new stake in shares of UFP Industries during the fourth quarter worth about $638,000. Royce & Associates LP lifted its stake in UFP Industries by 1.3% in the fourth quarter. Royce & Associates LP now owns 628,569 shares of the construction company's stock valued at $70,808,000 after buying an additional 8,257 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of UFP Industries by 2.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company's stock valued at $494,000 after acquiring an additional 104 shares during the period. Ironwood Investment Management LLC grew its position in shares of UFP Industries by 1.0% during the fourth quarter. Ironwood Investment Management LLC now owns 15,675 shares of the construction company's stock worth $1,766,000 after acquiring an additional 155 shares during the last quarter. Finally, Picton Mahoney Asset Management increased its holdings in shares of UFP Industries by 18.5% in the 4th quarter. Picton Mahoney Asset Management now owns 140,161 shares of the construction company's stock valued at $15,785,000 after acquiring an additional 21,880 shares during the period. Institutional investors and hedge funds own 81.81% of the company's stock.

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UFP Industries Stock Performance

Shares of UFPI stock traded up $4.25 during mid-day trading on Monday, hitting $111.75. The stock had a trading volume of 524,285 shares, compared to its average volume of 288,249. The firm has a market cap of $6.80 billion, a PE ratio of 16.51 and a beta of 1.52. The company's 50-day simple moving average is $112.19 and its 200-day simple moving average is $121.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. UFP Industries, Inc. has a fifty-two week low of $102.35 and a fifty-two week high of $141.33.

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 analysts' consensus estimates of $1.24 by ($0.04). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. Sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.35 dividend. 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.25%. UFP Industries's payout ratio is 20.68%.

Analysts Set New Price Targets

UFPI has been the subject of a number of recent research reports. StockNews.com cut shares of UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Benchmark reiterated a "buy" rating and set a $135.00 target price on shares of UFP Industries in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $143.00.

UFP Industries Company 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.