Edgestream Partners L.P. Grows Position in UFP Industries, Inc. (NASDAQ:UFPI)

Edgestream Partners L.P. boosted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 161.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,492 shares of the construction company's stock after purchasing an additional 12,044 shares during the period. Edgestream Partners L.P.'s holdings in UFP Industries were worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in UFPI. Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 505 shares during the period. Jones Financial Companies Lllp lifted its holdings in UFP Industries by 357.8% in the fourth 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 during the period. Principal Securities Inc. boosted its position in UFP Industries by 39.8% in the 4th quarter. Principal Securities Inc. now owns 615 shares of the construction company's stock worth $69,000 after purchasing an additional 175 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in UFP Industries in the 4th quarter worth approximately $106,000. Finally, Millburn Ridgefield Corp acquired a new stake in shares of UFP Industries during the 3rd quarter worth approximately $140,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other news, Director William G. Currie sold 5,700 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the transaction, the director now owns 61,140 shares in the company, valued at $7,739,712.60. This trade represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.58% of the stock is currently owned by insiders.

UFP Industries Price Performance

Shares of NASDAQ:UFPI traded down $0.88 during midday trading on Thursday, reaching $104.50. 533,249 shares of the company's stock traded hands, compared to its average volume of 283,467. The company has a fifty day simple moving average of $112.66 and a two-hundred day simple moving average of $121.95. UFP Industries, Inc. has a 1 year low of $102.35 and a 1 year high of $141.33. The company has a market cap of $6.34 billion, a P/E ratio of 15.44 and a beta of 1.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing analysts' consensus estimates of $1.24 by ($0.04). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. 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 declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.35 dividend. The ex-dividend date is Monday, March 3rd. This is a positive change from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.34%. UFP Industries's dividend payout ratio (DPR) is currently 20.68%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. 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 issued a $135.00 price objective on shares of UFP Industries in a research 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $143.00.

About UFP Industries

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.