Van ECK Associates Corp Buys 12,498 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Van ECK Associates Corp lifted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 30.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,789 shares of the construction company's stock after acquiring an additional 12,498 shares during the period. Van ECK Associates Corp owned approximately 0.09% of UFP Industries worth $6,059,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Signaturefd LLC increased its holdings in UFP Industries by 31.8% during the 3rd quarter. Signaturefd LLC now owns 315 shares of the construction company's stock worth $41,000 after purchasing an additional 76 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its holdings in UFP Industries by 5.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company's stock worth $216,000 after buying an additional 104 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in UFP Industries by 1.8% during the third quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company's stock worth $822,000 after buying an additional 113 shares in the last quarter. Highland Capital Management LLC raised its position in UFP Industries by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 2,222 shares of the construction company's stock valued at $250,000 after buying an additional 138 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its stake in UFP Industries by 2.7% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,649 shares of the construction company's stock valued at $872,000 after acquiring an additional 175 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com lowered shares of UFP Industries from a "buy" rating to a "hold" rating in a research note on Wednesday. Benchmark reaffirmed a "buy" rating and issued a $135.00 price objective on shares of UFP Industries in a research report on Wednesday. Finally, Wedbush reissued an "outperform" rating and set a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, UFP Industries presently has an average rating of "Moderate Buy" and an average target price of $143.00.

UFP Industries Stock Performance

Shares of NASDAQ:UFPI traded down $1.29 during midday trading on Friday, reaching $108.55. The company had a trading volume of 422,812 shares, compared to its average volume of 293,965. The stock has a market cap of $6.59 billion, a P/E ratio of 16.03 and a beta of 1.45. The company's 50 day moving average price is $114.73 and its 200 day moving average price is $123.03. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52-week low of $107.25 and a 52-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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.43 billion. As a group, sell-side analysts anticipate that UFP Industries, Inc. will post 7.42 EPS for the current fiscal year.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.29%. This is a positive change from UFP Industries's previous quarterly dividend of $0.33. The ex-dividend date is Monday, March 3rd. UFP Industries's dividend payout ratio is 19.50%.

Insiders Place Their Bets

In related news, Director William G. Currie sold 5,700 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total value of $721,563.00. Following the sale, the director now directly owns 61,140 shares in the company, valued at approximately $7,739,712.60. The trade was a 8.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.58% of the company's stock.

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.