Verdence Capital Advisors LLC Makes New $221,000 Investment in UFP Industries, Inc. (NASDAQ:UFPI)

Verdence Capital Advisors LLC purchased a new position in UFP Industries, Inc. (NASDAQ:UFPI) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,756 shares of the construction company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kestra Advisory Services LLC lifted its position in UFP Industries by 1.1% in the third quarter. Kestra Advisory Services LLC now owns 9,805 shares of the construction company’s stock worth $1,004,000 after purchasing an additional 103 shares during the period. Blue Trust Inc. lifted its holdings in shares of UFP Industries by 25.6% in the fourth quarter. Blue Trust Inc. now owns 594 shares of the construction company’s stock valued at $75,000 after buying an additional 121 shares during the period. Arizona State Retirement System boosted its stake in UFP Industries by 0.8% during the third quarter. Arizona State Retirement System now owns 17,680 shares of the construction company’s stock valued at $1,810,000 after buying an additional 134 shares in the last quarter. Global Retirement Partners LLC grew its holdings in UFP Industries by 46.2% during the fourth quarter. Global Retirement Partners LLC now owns 440 shares of the construction company’s stock worth $51,000 after acquiring an additional 139 shares during the period. Finally, Westover Capital Advisors LLC raised its position in UFP Industries by 3.0% in the third quarter. Westover Capital Advisors LLC now owns 5,420 shares of the construction company’s stock worth $555,000 after acquiring an additional 160 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Stock Performance

UFP Industries stock opened at $114.02 on Wednesday. UFP Industries, Inc. has a fifty-two week low of $76.01 and a fifty-two week high of $128.65. The firm’s 50 day simple moving average is $116.00 and its 200-day simple moving average is $113.13. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.41 and a quick ratio of 3.12. The company has a market cap of $7.02 billion, a P/E ratio of 14.15 and a beta of 1.49.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.62 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.06). UFP Industries had a return on equity of 17.86% and a net margin of 7.12%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the firm posted $2.10 earnings per share. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, equities research analysts predict that UFP Industries, Inc. will post 7.4 EPS for the current year.

UFP Industries Increases Dividend

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

Insider Buying and Selling at UFP Industries

In related news, CEO Matthew J. Missad sold 5,018 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total transaction of $572,302.90. Following the completion of the sale, the chief executive officer now directly owns 363,328 shares in the company, valued at $41,437,558.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UFPI shares. Stifel Nicolaus raised their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Benchmark raised their target price on shares of UFP Industries from $120.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 4th. Finally, Wedbush reiterated a “neutral” rating and set a $102.00 price objective 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 assigned a buy rating to the company. According to MarketBeat.com, UFP Industries currently has a consensus rating of “Moderate Buy” and a consensus price target 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.