Principal Securities Inc. Purchases 175 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Principal Securities Inc. raised its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 39.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 615 shares of the construction company’s stock after purchasing an additional 175 shares during the quarter. Principal Securities Inc.’s holdings in UFP Industries were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in UFPI. Signaturefd LLC lifted its holdings in UFP Industries by 31.8% during the 3rd 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 last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of UFP Industries during the third quarter worth $94,000. Arkadios Wealth Advisors lifted its holdings in shares of UFP Industries by 27.6% during the third quarter. Arkadios Wealth Advisors now owns 4,217 shares of the construction company’s stock worth $553,000 after buying an additional 912 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of UFP Industries by 1.8% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 19,337 shares of the construction company’s stock worth $2,537,000 after buying an additional 340 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of UFP Industries by 5.6% during the third quarter. State of Alaska Department of Revenue now owns 7,080 shares of the construction company’s stock worth $928,000 after buying an additional 375 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Insider Buying and Selling

In other news, Director William G. Currie sold 5,700 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the transaction, the director now directly owns 61,140 shares of the company’s stock, valued at $7,739,712.60. This represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.58% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a report on Monday, November 4th. StockNews.com cut UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Benchmark restated a “buy” rating and issued a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $108.77 on Thursday. The stock has a market cap of $6.61 billion, a P/E ratio of 16.07 and a beta of 1.45. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $113.99 and its 200-day moving average is $122.86. UFP Industries, Inc. has a 1-year low of $105.57 and a 1-year high of $141.33.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.04). The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. Equities research analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.35 dividend. This is a positive change 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 1.29%. The ex-dividend date is Monday, March 3rd. UFP Industries’s payout ratio 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.