Envestnet Portfolio Solutions Inc. Grows Position in UFP Industries, Inc. (NASDAQ:UFPI)

Envestnet Portfolio Solutions Inc. raised its position in UFP Industries, Inc. (NASDAQ:UFPI) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,382 shares of the construction company’s stock after purchasing an additional 104 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in UFP Industries were worth $494,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of UFP Industries in the fourth quarter worth approximately $30,457,000. FMR LLC lifted its position in shares of UFP Industries by 13.4% during the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock worth $214,604,000 after purchasing an additional 193,891 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of UFP Industries by 18.2% during the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after purchasing an additional 188,969 shares during the period. Wasatch Advisors LP grew its holdings in shares of UFP Industries by 16.1% in the third quarter. Wasatch Advisors LP now owns 590,712 shares of the construction company’s stock worth $77,507,000 after purchasing an additional 81,950 shares during the last quarter. Finally, Barclays PLC lifted its holdings in UFP Industries by 109.0% during the 3rd quarter. Barclays PLC now owns 135,996 shares of the construction company’s stock valued at $17,844,000 after buying an additional 70,927 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Wall Street Analysts Forecast Growth

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

UFP Industries Trading Down 1.6 %

NASDAQ UFPI opened at $109.99 on Wednesday. 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 $6.69 billion, a price-to-earnings ratio of 16.25 and a beta of 1.52. The company’s 50-day simple moving average is $112.07 and its two-hundred day simple moving average is $121.27.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. Equities analysts forecast 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. Stockholders of record on Monday, March 3rd were issued a $0.35 dividend. The ex-dividend date was Monday, March 3rd. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.27%. UFP Industries’s dividend payout ratio (DPR) is currently 20.68%.

About UFP Industries

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.