Wealth Enhancement Advisory Services LLC Has $2.54 Million Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Wealth Enhancement Advisory Services LLC grew its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 1.8% during the third quarter, HoldingsChannel reports. The firm owned 19,337 shares of the construction company’s stock after buying an additional 340 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in UFP Industries were worth $2,537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Foundry Partners LLC boosted its position in UFP Industries by 13.1% in the first quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock valued at $4,811,000 after buying an additional 4,526 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of UFP Industries by 28.6% during the 1st quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock valued at $14,150,000 after acquiring an additional 25,508 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in UFP Industries by 299.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after acquiring an additional 4,597 shares during the last quarter. Acadian Asset Management LLC acquired a new position in UFP Industries in the 1st quarter worth about $1,214,000. Finally, Empowered Funds LLC raised its position in UFP Industries by 14.9% in the first quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock valued at $6,958,000 after purchasing an additional 7,320 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $123.08 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.31. UFP Industries, Inc. has a fifty-two week low of $96.72 and a fifty-two week high of $139.54. The company has a 50 day simple moving average of $126.88 and a two-hundred day simple moving average of $120.61. The company has a market capitalization of $7.50 billion, a PE ratio of 16.93 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Monday, October 28th. The construction company reported $1.64 earnings per share 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 firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the company earned $2.10 earnings per share. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. Research analysts anticipate that UFP Industries, Inc. will post 7.18 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Monday, December 2nd. UFP Industries’s dividend payout ratio (DPR) is presently 18.16%.

Analysts Set New Price Targets

Several research firms have recently weighed in on UFPI. Benchmark boosted their price target on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Wedbush raised shares of UFP Industries from a “neutral” rating to an “outperform” rating and raised their price target for the company from $120.00 to $155.00 in a research note on Tuesday, October 8th. Finally, Stifel Nicolaus boosted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.