Cibc World Markets Corp Invests $638,000 in UFP Industries, Inc. (NASDAQ:UFPI)

Cibc World Markets Corp bought a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the fourth quarter, Holdings Channel reports. The fund bought 5,663 shares of the construction company’s stock, valued at approximately $638,000.

A number of other institutional investors also recently bought and sold shares of the company. Royce & Associates LP raised its stake in UFP Industries by 1.3% during the fourth quarter. Royce & Associates LP now owns 628,569 shares of the construction company’s stock worth $70,808,000 after purchasing an additional 8,257 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of UFP Industries by 2.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company’s stock valued at $494,000 after acquiring an additional 104 shares during the last quarter. Ironwood Investment Management LLC increased its position in shares of UFP Industries by 1.0% during the fourth quarter. Ironwood Investment Management LLC now owns 15,675 shares of the construction company’s stock valued at $1,766,000 after acquiring an additional 155 shares during the last quarter. Picton Mahoney Asset Management increased its position in shares of UFP Industries by 18.5% during the fourth quarter. Picton Mahoney Asset Management now owns 140,161 shares of the construction company’s stock valued at $15,785,000 after acquiring an additional 21,880 shares during the last quarter. Finally, Impact Capital Partners LLC acquired a new stake in shares of UFP Industries during the fourth quarter valued at about $550,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Trading Down 0.4 %

Shares of UFPI stock opened at $107.50 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The stock has a market capitalization of $6.54 billion, a P/E ratio of 15.88 and a beta of 1.52. The company has a 50 day moving average price of $112.19 and a 200 day moving average price of $121.26. UFP Industries, Inc. has a fifty-two week low of $102.35 and a fifty-two week high of $141.33.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data 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 business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. Equities research analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The company 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. The ex-dividend date was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.30%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s payout ratio is currently 20.68%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on UFPI shares. Benchmark reiterated a “buy” rating and set a $135.00 price target 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.