Van ECK Associates Corp Has $5.37 Million Position in UFP Industries, Inc. (NASDAQ:UFPI)

Van ECK Associates Corp lifted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 34.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,291 shares of the construction company’s stock after acquiring an additional 10,647 shares during the quarter. Van ECK Associates Corp’s holdings in UFP Industries were worth $5,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. raised its position in shares of UFP Industries by 300.0% during the third quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock worth $25,000 after purchasing an additional 144 shares during the period. Headlands Technologies LLC bought a new position in shares of UFP Industries during the 2nd quarter worth $29,000. Signaturefd LLC raised its position in shares of UFP Industries by 31.8% in the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock valued at $41,000 after purchasing an additional 76 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of UFP Industries during the second quarter worth $56,000. Finally, GAMMA Investing LLC lifted its holdings in UFP Industries by 84.2% during the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock worth $57,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Price Performance

NASDAQ UFPI opened at $133.24 on Friday. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52 week low of $100.25 and a 52 week high of $139.54. The firm has a market capitalization of $8.12 billion, a P/E ratio of 18.33 and a beta of 1.39. The company has a 50-day moving average price of $127.52 and a 200-day moving average price of $121.10.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the firm posted $2.10 EPS. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts anticipate that UFP Industries, Inc. will post 7.18 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s dividend payout ratio (DPR) is 18.16%.

Wall Street Analyst Weigh In

Several analysts have weighed in on UFPI shares. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price target on shares of UFP Industries in a report on Monday. Stifel Nicolaus boosted 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. BMO Capital Markets raised their price target on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Finally, Benchmark lifted their price target on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, UFP Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

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.