Duality Advisers LP Buys New Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Duality Advisers LP bought a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,543 shares of the construction company’s stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in UFP Industries by 716.7% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,561,285 shares of the construction company’s stock worth $159,876,000 after buying an additional 1,370,105 shares in the last quarter. Northern Trust Corp lifted its holdings in UFP Industries by 0.9% in the 3rd quarter. Northern Trust Corp now owns 1,111,025 shares of the construction company’s stock worth $113,769,000 after buying an additional 10,326 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in UFP Industries by 31.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 749,259 shares of the construction company’s stock worth $76,724,000 after buying an additional 179,323 shares in the last quarter. AQR Capital Management LLC lifted its holdings in UFP Industries by 93.0% in the 3rd quarter. AQR Capital Management LLC now owns 679,139 shares of the construction company’s stock worth $69,544,000 after buying an additional 327,220 shares in the last quarter. Finally, Copeland Capital Management LLC lifted its holdings in UFP Industries by 16.8% in the 3rd quarter. Copeland Capital Management LLC now owns 540,020 shares of the construction company’s stock worth $55,298,000 after buying an additional 77,828 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the completion of the transaction, the chief executive officer now owns 363,328 shares in the company, valued at approximately $41,437,558.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.58% of the stock is owned by insiders.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $113.64 on Friday. The company has a quick ratio of 3.12, a current ratio of 4.41 and a debt-to-equity ratio of 0.08. UFP Industries, Inc. has a fifty-two week low of $76.08 and a fifty-two week high of $128.65. The firm has a 50-day simple moving average of $115.76 and a 200 day simple moving average of $113.22. The company has a market cap of $6.99 billion, a PE ratio of 14.10 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.06). UFP Industries had a net margin of 7.12% and a return on equity of 17.86%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company earned $2.10 EPS. UFP Industries’s quarterly revenue was down 20.3% on a year-over-year basis. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 7.4 EPS for the current year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.33 dividend. This is a boost from UFP Industries’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 29th. This represents a $1.32 annualized dividend and a yield of 1.16%. UFP Industries’s dividend payout ratio is 16.38%.

Analyst Ratings Changes

UFPI has been the subject of several research analyst reports. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 4th. Stifel Nicolaus boosted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Benchmark boosted their target price on shares of UFP Industries from $120.00 to $137.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, Wedbush reissued a “neutral” rating and issued a $102.00 target price on shares of UFP Industries in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $114.00.

About UFP Industries

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.