Jennison Associates LLC Has $1.32 Million Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Jennison Associates LLC grew its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,054 shares of the construction company’s stock after buying an additional 727 shares during the period. Jennison Associates LLC’s holdings in UFP Industries were worth $1,319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in UFPI. Segall Bryant & Hamill LLC lifted its holdings in UFP Industries by 4.0% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 118,010 shares of the construction company’s stock valued at $15,484,000 after purchasing an additional 4,579 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of UFP Industries in the third quarter valued at about $2,057,000. J. W. Coons Advisors LLC lifted its stake in shares of UFP Industries by 5.4% during the 3rd quarter. J. W. Coons Advisors LLC now owns 3,725 shares of the construction company’s stock worth $489,000 after buying an additional 190 shares during the last quarter. Seizert Capital Partners LLC boosted its holdings in shares of UFP Industries by 85.5% during the 3rd quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company’s stock worth $4,543,000 after buying an additional 15,958 shares during the period. Finally, Natixis Advisors LLC grew its stake in UFP Industries by 4.6% in the 3rd quarter. Natixis Advisors LLC now owns 30,639 shares of the construction company’s stock valued at $4,020,000 after buying an additional 1,361 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Trading Up 2.0 %

Shares of NASDAQ:UFPI opened at $133.07 on Friday. The business’s 50 day simple moving average is $130.85 and its 200 day simple moving average is $122.47. UFP Industries, Inc. has a 1 year low of $107.49 and a 1 year high of $139.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25. The company has a market capitalization of $8.08 billion, a P/E ratio of 18.30 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) 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 company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the company posted $2.10 earnings per share. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, research analysts anticipate that UFP Industries, Inc. will post 6.89 EPS for the current fiscal year.

UFP Industries Announces Dividend

The company also recently announced 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 0.99%. The ex-dividend date of this dividend is Monday, December 2nd. UFP Industries’s payout ratio is presently 18.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Benchmark raised their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted their price target on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Stifel Nicolaus increased their price objective on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wedbush reissued an “outperform” rating and issued a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.