Kayne Anderson Rudnick Investment Management LLC Raises Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Kayne Anderson Rudnick Investment Management LLC increased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,224,593 shares of the construction company’s stock after buying an additional 28,601 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 5.29% of UFP Industries worth $361,155,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of UFPI. Sei Investments Co. raised its holdings in shares of UFP Industries by 1.4% during the second quarter. Sei Investments Co. now owns 80,305 shares of the construction company’s stock worth $8,994,000 after purchasing an additional 1,145 shares during the last quarter. Hsbc Holdings PLC grew its position in UFP Industries by 233.2% during the 2nd quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company’s stock worth $729,000 after purchasing an additional 4,595 shares during the period. Blair William & Co. IL raised its stake in shares of UFP Industries by 52.5% during the 2nd quarter. Blair William & Co. IL now owns 9,924 shares of the construction company’s stock valued at $1,112,000 after buying an additional 3,415 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of UFP Industries by 2.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,185 shares of the construction company’s stock valued at $805,000 after buying an additional 167 shares during the last quarter. Finally, Argent Trust Co lifted its holdings in shares of UFP Industries by 3.5% in the 2nd quarter. Argent Trust Co now owns 4,362 shares of the construction company’s stock valued at $489,000 after buying an additional 148 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

UFP Industries Stock Performance

UFPI opened at $130.80 on Friday. The company has a market cap of $7.97 billion, a price-to-earnings ratio of 16.27 and a beta of 1.39. The firm’s fifty day simple moving average is $121.35 and its two-hundred day simple moving average is $117.75. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52-week low of $90.62 and a 52-week high of $136.93.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business earned $2.36 EPS. UFP Industries’s quarterly revenue was down 6.9% on a year-over-year basis. Equities analysts anticipate that UFP Industries, Inc. will post 7.27 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, August 30th. UFP Industries’s dividend payout ratio (DPR) is 16.42%.

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.