Handelsbanken Fonder AB Acquires 1,200 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Handelsbanken Fonder AB raised its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 10.4% during the third quarter, Holdings Channel reports. The institutional investor owned 12,695 shares of the construction company’s stock after buying an additional 1,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in UFP Industries were worth $1,666,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Argent Capital Management LLC lifted its position in UFP Industries by 12.5% in the 4th quarter. Argent Capital Management LLC now owns 4,508 shares of the construction company’s stock valued at $566,000 after acquiring an additional 500 shares in the last quarter. Cim LLC purchased a new position in shares of UFP Industries during the fourth quarter valued at approximately $241,000. Integrated Advisors Network LLC bought a new stake in UFP Industries during the fourth quarter worth $444,000. ICA Group Wealth Management LLC purchased a new stake in UFP Industries in the 4th quarter valued at $94,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in UFP Industries during the 4th quarter valued at $201,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on UFPI shares. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Benchmark upped their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets lifted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Wedbush upgraded UFP Industries from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $120.00 to $155.00 in a research note on Tuesday. Finally, Stifel Nicolaus increased their price target on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and an average price target of $139.60.

UFP Industries Stock Down 1.8 %

UFPI opened at $134.55 on Friday. UFP Industries, Inc. has a twelve month low of $90.62 and a twelve month high of $137.09. The company’s 50-day moving average price is $123.16 and its two-hundred day moving average price is $119.29. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 16.74 and a beta of 1.39. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data 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 business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the business earned $2.36 earnings per share. UFP Industries’s revenue for the quarter was down 6.9% on a year-over-year basis. As a group, equities analysts expect that UFP Industries, Inc. will post 7.27 earnings per share for the current year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a dividend of $0.33 per share. The ex-dividend date was Friday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 0.98%. UFP Industries’s payout ratio is 16.42%.

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.