Whittier Trust Co. of Nevada Inc. Makes New $70,000 Investment in UFP Industries, Inc. (NASDAQ:UFPI)

Whittier Trust Co. of Nevada Inc. acquired a new stake in UFP Industries, Inc. (NASDAQ:UFPI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 530 shares of the construction company’s stock, valued at approximately $70,000.

Other hedge funds have also modified their holdings of the company. B. Riley Wealth Advisors Inc. bought a new stake in UFP Industries in the fourth quarter valued at $201,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of UFP Industries by 49.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,999 shares of the construction company’s stock worth $1,353,000 after purchasing an additional 3,657 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in shares of UFP Industries during the 1st quarter worth about $298,000. State of Michigan Retirement System lifted its holdings in UFP Industries by 2.7% during the 1st quarter. State of Michigan Retirement System now owns 15,200 shares of the construction company’s stock valued at $1,870,000 after purchasing an additional 400 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC boosted its position in UFP Industries by 6.8% in the first quarter. Measured Wealth Private Client Group LLC now owns 4,391 shares of the construction company’s stock valued at $540,000 after buying an additional 280 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Trading Up 0.6 %

Shares of UFPI opened at $130.81 on Friday. 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, Inc. has a 12-month low of $90.62 and a 12-month high of $139.54. The firm has a market capitalization of $8.08 billion, a PE ratio of 16.27 and a beta of 1.39. The stock’s fifty day simple moving average is $126.26 and its 200-day simple moving average is $120.25.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the company posted $2.36 EPS. The company’s revenue was down 6.9% compared to the same quarter last year. As a group, research analysts predict that UFP Industries, Inc. will post 7.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UFPI. Wedbush raised shares of UFP Industries from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $120.00 to $155.00 in a report on Tuesday, October 8th. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. BMO Capital Markets boosted their price objective on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their target price on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Benchmark increased their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, UFP Industries has an average rating of “Moderate Buy” and a consensus target price of $139.60.

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.