Magnetar Financial LLC Purchases New Position in UFP Industries, Inc. (NASDAQ:UFPI)

Magnetar Financial LLC purchased a new stake in UFP Industries, Inc. (NASDAQ:UFPI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,494 shares of the construction company’s stock, valued at approximately $619,000.

Several other large investors have also added to or reduced their stakes in the business. CIBC Asset Management Inc lifted its position in shares of UFP Industries by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock worth $213,000 after buying an additional 97 shares in the last quarter. Robertson Stephens Wealth Management LLC lifted its position in shares of UFP Industries by 5.7% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,914 shares of the construction company’s stock worth $216,000 after buying an additional 104 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of UFP Industries by 2.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company’s stock worth $494,000 after buying an additional 104 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of UFP Industries by 1.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 6,268 shares of the construction company’s stock worth $822,000 after buying an additional 113 shares in the last quarter. Finally, Highland Capital Management LLC lifted its position in shares of 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 buying an additional 138 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on UFPI shares. Benchmark reissued a “buy” rating and set a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, UFP Industries currently has an average rating of “Moderate Buy” and a consensus price target of $143.00.

UFP Industries Trading Down 0.4 %

NASDAQ:UFPI opened at $107.50 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 stock has a market capitalization of $6.54 billion, a PE ratio of 15.88 and a beta of 1.52. The firm’s 50 day moving average is $112.19 and its 200 day moving average is $121.23. UFP Industries, Inc. has a 12 month low of $102.35 and a 12 month high of $141.33.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The company had revenue of $1.46 billion during 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%. Sell-side analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.30%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. UFP Industries’s payout ratio is currently 20.68%.

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.