ProShare Advisors LLC Increases Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

ProShare Advisors LLC increased its position in UFP Industries, Inc. (NASDAQ:UFPI) by 58.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,928 shares of the construction company’s stock after buying an additional 8,112 shares during the quarter. ProShare Advisors LLC’s holdings in UFP Industries were worth $2,456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UFPI. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of UFP Industries by 0.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock valued at $361,155,000 after acquiring an additional 28,601 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 buying an additional 5,784 shares during the period. Wasatch Advisors LP lifted its position in UFP Industries by 5.2% during the 4th quarter. Wasatch Advisors LP now owns 334,351 shares of the construction company’s stock worth $41,978,000 after acquiring an additional 16,486 shares in the last quarter. First Trust Advisors LP boosted its holdings in UFP Industries by 21.0% in the 4th quarter. First Trust Advisors LP now owns 291,228 shares of the construction company’s stock worth $36,564,000 after acquiring an additional 50,537 shares during the period. Finally, Henrickson Nauta Wealth Advisors Inc. grew its position in UFP Industries by 82.3% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock valued at $29,007,000 after acquiring an additional 114,166 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analysts Set New Price Targets

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

UFP Industries Trading Up 1.3 %

UFP Industries stock opened at $131.27 on Friday. UFP Industries, Inc. has a 52-week low of $90.62 and a 52-week high of $136.93. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 16.33 and a beta of 1.39. The firm has a 50-day moving average price of $122.21 and a two-hundred day moving average price of $118.32.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share (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 business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the firm posted $2.36 earnings per share. The business’s revenue was down 6.9% on a year-over-year basis. Sell-side analysts expect that UFP Industries, Inc. will post 7.27 earnings per share for the current year.

UFP Industries Announces Dividend

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

UFP Industries 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.