Blue Trust Inc. Buys 494 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Blue Trust Inc. lifted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 131.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 870 shares of the construction company’s stock after purchasing an additional 494 shares during the quarter. Blue Trust Inc.’s holdings in UFP Industries were worth $107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in UFP Industries by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 753,559 shares of the construction company’s stock valued at $94,609,000 after purchasing an additional 4,300 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in UFP Industries by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after acquiring an additional 5,784 shares in the last quarter. Norges Bank bought a new position in UFP Industries in the fourth quarter valued at $86,885,000. Wells Fargo & Company MN raised its position in UFP Industries by 871.3% during the fourth quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock valued at $51,741,000 after purchasing an additional 369,687 shares in the last quarter. Finally, Wasatch Advisors LP raised its position in UFP Industries by 5.2% during the fourth quarter. Wasatch Advisors LP now owns 334,351 shares of the construction company’s stock valued at $41,978,000 after purchasing an additional 16,486 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at UFP Industries

In other news, insider Patrick M. Benton sold 11,725 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $115.27, for a total value of $1,351,540.75. Following the sale, the insider now directly owns 97,729 shares of the company’s stock, valued at $11,265,221.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.58% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wedbush reiterated a “neutral” rating and set a $120.00 price objective (up from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Stifel Nicolaus increased their target price on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Benchmark lifted their price target on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Finally, BMO Capital Markets raised their target price on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Three 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, the company presently has an average rating of “Moderate Buy” and an average target price of $132.60.

UFP Industries Stock Down 0.8 %

Shares of UFP Industries stock opened at $118.36 on Wednesday. UFP Industries, Inc. has a 12-month low of $90.62 and a 12-month high of $136.93. The company has a market cap of $7.21 billion, a P/E ratio of 14.72 and a beta of 1.40. The company’s fifty day simple moving average is $117.63 and its two-hundred day simple moving average is $116.90. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the company earned $2.36 earnings per share. The firm’s quarterly revenue was down 6.9% compared to the same quarter last year. Research analysts anticipate that UFP Industries, Inc. will post 7.3 EPS for the current year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 1.12%. UFP Industries’s payout ratio is currently 16.42%.

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.