Prudential Financial Inc. Boosts Position in UFP Industries, Inc. (NASDAQ:UFPI)

Prudential Financial Inc. grew its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,878 shares of the construction company's stock after buying an additional 13,405 shares during the period. Prudential Financial Inc. owned 0.18% of UFP Industries worth $12,152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in UFPI. FMR LLC increased its stake in UFP Industries by 13.4% during the third quarter. FMR LLC now owns 1,635,577 shares of the construction company's stock worth $214,604,000 after acquiring an additional 193,891 shares during the last quarter. Geode Capital Management LLC raised its holdings in UFP Industries by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company's stock valued at $200,553,000 after buying an additional 14,857 shares during the period. Franklin Resources Inc. lifted its position in UFP Industries by 18.2% in the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company's stock valued at $169,675,000 after buying an additional 188,969 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in UFP Industries by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company's stock worth $102,158,000 after buying an additional 31,381 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of UFP Industries by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 772,001 shares of the construction company's stock valued at $86,966,000 after acquiring an additional 2,160 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and set a $135.00 price objective 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 report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $143.00.

UFP Industries Stock Up 0.5 %

NASDAQ UFPI traded up $0.50 during trading hours on Wednesday, hitting $107.11. 44,669 shares of the company were exchanged, compared to its average volume of 307,538. The company has a 50 day moving average of $111.14 and a two-hundred day moving average of $120.99. 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 cap of $6.51 billion, a price-to-earnings ratio of 15.81 and a beta of 1.45. UFP Industries, Inc. has a 52-week low of $102.35 and a 52-week high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued 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). 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. Equities research analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.35 per share. This is a boost from UFP Industries's previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Monday, March 3rd. UFP Industries's payout ratio is 20.68%.

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.