CWA Asset Management Group LLC Invests $408,000 in UFP Industries, Inc. (NASDAQ:UFPI)

CWA Asset Management Group LLC acquired a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,110 shares of the construction company’s stock, valued at approximately $408,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of UFP Industries by 0.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock worth $361,155,000 after acquiring an additional 28,601 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of UFP Industries by 3.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock valued at $116,467,000 after buying an additional 32,555 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of UFP Industries by 0.8% during 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. AQR Capital Management LLC increased its position in UFP Industries by 22.7% in the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after acquiring an additional 112,518 shares during the period. Finally, Copeland Capital Management LLC raised its stake in UFP Industries by 1.0% during the 3rd quarter. Copeland Capital Management LLC now owns 546,197 shares of the construction company’s stock valued at $71,667,000 after acquiring an additional 5,515 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Trading Up 2.4 %

Shares of NASDAQ:UFPI opened at $137.71 on Tuesday. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 18.94 and a beta of 1.39. UFP Industries, Inc. has a 1-year low of $101.79 and a 1-year high of $139.54. The company has a 50 day moving average price of $128.10 and a 200 day moving average price of $121.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. On average, research analysts anticipate that UFP Industries, Inc. will post 7.01 EPS for the current fiscal year.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s dividend payout ratio is presently 18.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on UFPI shares. BMO Capital Markets raised their price target on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Stifel Nicolaus increased their price objective 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. Wedbush reissued an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. Finally, Benchmark increased their price target on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and an average price target of $148.00.

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.