Renaissance Technologies LLC Has $15.14 Million Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Renaissance Technologies LLC raised its position in UFP Industries, Inc. (NASDAQ:UFPI) by 8.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 135,200 shares of the construction company’s stock after acquiring an additional 10,491 shares during the period. Renaissance Technologies LLC owned approximately 0.22% of UFP Industries worth $15,142,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Foundry Partners LLC grew its stake in UFP Industries by 13.1% in the first quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock valued at $4,811,000 after acquiring an additional 4,526 shares during the period. Nordea Investment Management AB boosted its position in shares of UFP Industries by 28.6% during the first quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock valued at $14,150,000 after buying an additional 25,508 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of UFP Industries by 299.5% during the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock valued at $687,000 after buying an additional 4,597 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of UFP Industries during the first quarter valued at approximately $1,214,000. Finally, Empowered Funds LLC boosted its position in shares of UFP Industries by 14.9% during the first quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock valued at $6,958,000 after buying an additional 7,320 shares during the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Ratings Changes

UFPI has been the topic of several analyst reports. Benchmark lifted their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wedbush reaffirmed a “neutral” rating and set a $120.00 target price (up previously from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Stifel Nicolaus lifted their target price on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.60.

UFP Industries Stock Down 1.5 %

UFPI stock opened at $130.80 on Friday. The stock’s fifty day simple moving average is $121.35 and its two-hundred day simple moving average is $117.78. 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, Inc. has a 1-year low of $90.62 and a 1-year high of $136.93. The stock has a market cap of $8.08 billion, a P/E ratio of 16.27 and a beta of 1.39.

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

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a $0.33 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 1.01%. UFP Industries’s payout ratio is presently 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.