PNC Financial Services Group Inc. Acquires 1,480 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

PNC Financial Services Group Inc. increased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 31.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,227 shares of the construction company’s stock after buying an additional 1,480 shares during the quarter. PNC Financial Services Group Inc.’s holdings in UFP Industries were worth $701,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of UFPI. Edgestream Partners L.P. raised its position in UFP Industries by 161.7% in the fourth quarter. Edgestream Partners L.P. now owns 19,492 shares of the construction company’s stock valued at $2,196,000 after purchasing an additional 12,044 shares during the last quarter. Callan Family Office LLC bought a new position in UFP Industries in the fourth quarter valued at about $602,000. Raymond James Financial Inc. bought a new position in UFP Industries in the fourth quarter valued at about $30,457,000. Proficio Capital Partners LLC bought a new position in UFP Industries in the fourth quarter valued at about $4,302,000. Finally, Seizert Capital Partners LLC raised its position in UFP Industries by 14.1% in the fourth quarter. Seizert Capital Partners LLC now owns 39,510 shares of the construction company’s stock valued at $4,451,000 after purchasing an additional 4,887 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on UFPI. Benchmark restated a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and a consensus price target of $143.00.

UFP Industries Price Performance

Shares of UFPI opened at $107.57 on Wednesday. UFP Industries, Inc. has a 1 year low of $102.35 and a 1 year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 15.89 and a beta of 1.52. The business has a 50-day moving average of $112.29 and a 200-day moving average of $121.52.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04). UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, equities research analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 1.30%. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio (DPR) is currently 20.68%.

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.