Prudential Financial Inc. Grows Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Prudential Financial Inc. boosted its position in UFP Industries, Inc. (NASDAQ:UFPI) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,878 shares of the construction company’s stock after buying an additional 13,405 shares during the period. Prudential Financial Inc.’s holdings in UFP Industries were worth $12,152,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its stake in shares of UFP Industries by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock worth $213,000 after acquiring an additional 97 shares during the period. Robertson Stephens Wealth Management LLC lifted its position in UFP Industries by 5.7% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company’s stock valued at $216,000 after purchasing an additional 104 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in UFP Industries by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company’s stock valued at $494,000 after purchasing an additional 104 shares in the last quarter. Highland Capital Management LLC increased its position in UFP Industries by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 2,222 shares of the construction company’s stock worth $250,000 after purchasing an additional 138 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in shares of UFP Industries by 4.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,286 shares of the construction company’s stock worth $370,000 after buying an additional 147 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Price Performance

Shares of NASDAQ UFPI opened at $106.31 on Friday. 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 company’s 50-day moving average price is $111.57 and its 200 day moving average price is $121.07. UFP Industries, Inc. has a 52 week low of $102.35 and a 52 week high of $141.33. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 15.70 and a beta of 1.52.

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

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.35 per share. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 1.32%. UFP Industries’s dividend payout ratio (DPR) is presently 20.68%.

Wall Street Analysts Forecast Growth

UFPI has been the topic of a number of recent analyst reports. StockNews.com lowered UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of UFP Industries in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

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.