UFP Industries, Inc. (NASDAQ:UFPI) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC raised its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 22.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 283,806 shares of the construction company’s stock after purchasing an additional 51,809 shares during the quarter. Fisher Asset Management LLC owned about 0.47% of UFP Industries worth $37,238,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of UFP Industries by 0.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock worth $361,155,000 after purchasing an additional 28,601 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in UFP Industries by 3.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 887,637 shares of the construction company’s stock valued at $116,467,000 after buying an additional 32,555 shares during the period. Charles Schwab Investment Management Inc. grew its stake in UFP Industries by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock worth $101,011,000 after buying an additional 4,006 shares during the period. Price T Rowe Associates Inc. MD boosted its position in UFP Industries by 0.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after purchasing an additional 5,784 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of UFP Industries by 22.7% in the second quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock worth $67,594,000 after buying an additional 112,518 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other UFP Industries news, CEO Matthew J. Missad sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $131.03, for a total value of $1,965,450.00. Following the completion of the sale, the chief executive officer now directly owns 314,450 shares in the company, valued at $41,202,383.50. This represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.58% of the company’s stock.

UFP Industries Stock Performance

Shares of UFPI stock opened at $137.53 on Wednesday. UFP Industries, Inc. has a 12-month low of $107.49 and a 12-month high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The firm has a market capitalization of $8.35 billion, a price-to-earnings ratio of 18.92 and a beta of 1.39. The business has a 50 day simple moving average of $131.16 and a 200 day simple moving average of $122.63.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.89 by ($0.25). UFP Industries had a return on equity of 14.45% and a net margin of 6.70%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the company posted $2.10 EPS. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that UFP Industries, Inc. will post 6.89 EPS for the current year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.96%. UFP Industries’s dividend payout ratio (DPR) is 18.16%.

Wall Street Analyst Weigh In

Several research firms recently commented on UFPI. BMO Capital Markets boosted their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Benchmark upped their target price on shares of 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 shares of UFP Industries from a “buy” rating to a “hold” rating in a research note on Monday. Wedbush reissued an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a research report on Monday, November 4th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, UFP Industries presently 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.