KLP Kapitalforvaltning AS Purchases Shares of 17,600 UFP Industries, Inc. (NASDAQ:UFPI)

KLP Kapitalforvaltning AS acquired a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,600 shares of the construction company’s stock, valued at approximately $1,983,000.

Several other large investors have also made changes to their positions in the company. AXQ Capital LP acquired a new stake in UFP Industries during the fourth quarter worth about $319,000. Sei Investments Co. grew its holdings in shares of UFP Industries by 4.8% during the 4th quarter. Sei Investments Co. now owns 87,984 shares of the construction company’s stock worth $9,912,000 after purchasing an additional 4,034 shares during the period. American Century Companies Inc. increased its position in UFP Industries by 3.2% during the 4th quarter. American Century Companies Inc. now owns 222,318 shares of the construction company’s stock worth $25,044,000 after purchasing an additional 6,947 shares in the last quarter. Virtu Financial LLC purchased a new position in UFP Industries in the fourth quarter valued at approximately $270,000. Finally, Quantbot Technologies LP lifted its position in UFP Industries by 78.0% during the fourth quarter. Quantbot Technologies LP now owns 12,570 shares of the construction company’s stock valued at $1,416,000 after buying an additional 5,509 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Down 0.1 %

Shares of NASDAQ:UFPI opened at $110.09 on Friday. The company has a 50 day moving average of $111.78 and a two-hundred day moving average of $121.11. UFP Industries, Inc. has a 52-week low of $102.35 and a 52-week high of $141.33. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $6.70 billion, a price-to-earnings ratio of 16.26 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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.35 dividend. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.27%. UFP Industries’s payout ratio is 20.68%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $135.00 price objective on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, UFP Industries presently has an average rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries 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.