Avantax Advisory Services Inc. Raises Position in UFP Industries, Inc. (NASDAQ:UFPI)

Avantax Advisory Services Inc. grew its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 4.7% in the fourth quarter, HoldingsChannel reports. The fund owned 3,286 shares of the construction company’s stock after purchasing an additional 147 shares during the quarter. Avantax Advisory Services Inc.’s holdings in UFP Industries were worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in UFP Industries by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock valued at $82,847,000 after purchasing an additional 60,859 shares during the period. Citigroup Inc. increased its holdings in UFP Industries by 50.7% in the 3rd quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock worth $15,670,000 after acquiring an additional 40,162 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in UFP Industries by 3.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company’s stock worth $102,158,000 after acquiring an additional 31,381 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in UFP Industries by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock valued at $101,011,000 after purchasing an additional 4,006 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of UFP Industries by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock worth $213,000 after purchasing an additional 97 shares during the period. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Stock Up 4.0 %

NASDAQ UFPI opened at $111.75 on Tuesday. The stock has a 50 day moving average price of $112.16 and a 200-day moving average price of $121.29. UFP Industries, Inc. has a one year low of $102.35 and a one year high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The company has a market capitalization of $6.80 billion, a P/E ratio of 16.51 and a beta of 1.52.

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

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio (DPR) is currently 20.68%.

Analyst Upgrades and Downgrades

UFPI has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and set a $135.00 target price on shares of UFP Industries in a research note 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.00.

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.