Point72 DIFC Ltd Makes New $230,000 Investment in UFP Industries, Inc. (NASDAQ:UFPI)

Point72 DIFC Ltd purchased a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the second quarter, according to its most recent filing with the SEC. The firm purchased 2,052 shares of the construction company’s stock, valued at approximately $230,000.

Several other institutional investors have also modified their holdings of UFPI. TFG Advisers LLC increased its stake in UFP Industries by 5.2% in the 1st quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock valued at $230,000 after purchasing an additional 92 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in UFP Industries by 0.7% in the second quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company’s stock valued at $1,630,000 after purchasing an additional 105 shares during the last quarter. Cadence Bank increased its position in shares of UFP Industries by 0.6% in the first quarter. Cadence Bank now owns 19,464 shares of the construction company’s stock valued at $2,394,000 after buying an additional 110 shares in the last quarter. Assetmark Inc. raised its stake in shares of UFP Industries by 17.3% during the 4th quarter. Assetmark Inc. now owns 873 shares of the construction company’s stock worth $110,000 after buying an additional 129 shares during the last quarter. Finally, SummerHaven Investment Management LLC boosted its position in shares of UFP Industries by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,732 shares of the construction company’s stock worth $866,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Up 0.4 %

UFPI stock opened at $129.61 on Friday. UFP Industries, Inc. has a one year low of $90.62 and a one year high of $136.93. The stock has a market capitalization of $7.90 billion, a P/E ratio of 16.12 and a beta of 1.39. The company has a 50 day moving average price of $122.00 and a two-hundred day moving average price of $118.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, beating 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 firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the firm posted $2.36 earnings per share. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, sell-side analysts expect that UFP Industries, Inc. will post 7.27 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a $0.33 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 1.02%. UFP Industries’s dividend payout ratio is presently 16.42%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Stifel Nicolaus raised their target price 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. BMO Capital Markets raised their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Benchmark upped their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Finally, Wedbush restated a “neutral” rating and issued a $120.00 price objective (up from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.60.

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.