MQS Management LLC Acquires Shares of 1,830 UFP Industries, Inc. (NASDAQ:UFPI)

MQS Management LLC acquired a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,830 shares of the construction company’s stock, valued at approximately $240,000.

Other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. increased its position in UFP Industries by 299.5% during the second quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock valued at $687,000 after acquiring an additional 4,597 shares during the last quarter. Acadian Asset Management LLC bought a new position in UFP Industries during the first quarter valued at $1,214,000. Hsbc Holdings PLC increased its position in UFP Industries by 233.2% during the second quarter. Hsbc Holdings PLC now owns 6,565 shares of the construction company’s stock valued at $729,000 after acquiring an additional 4,595 shares during the last quarter. Sei Investments Co. increased its position in UFP Industries by 16.7% during the first quarter. Sei Investments Co. now owns 79,160 shares of the construction company’s stock valued at $9,738,000 after acquiring an additional 11,331 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in UFP Industries by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock valued at $90,857,000 after acquiring an additional 5,784 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Down 2.2 %

NASDAQ:UFPI opened at $129.21 on Friday. UFP Industries, Inc. has a 1-year low of $107.49 and a 1-year high of $139.54. The company has a 50-day moving average of $129.45 and a 200 day moving average of $121.91. The firm has a market cap of $7.85 billion, a PE ratio of 17.77 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.31 and a quick ratio of 3.25.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Monday, October 28th. The construction company reported $1.64 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.25). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.76 billion. UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.10 earnings per share. As a group, research analysts anticipate that UFP Industries, Inc. will post 7.01 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 1.02%. UFP Industries’s dividend payout ratio (DPR) is currently 18.16%.

Wall Street Analysts Forecast Growth

UFPI has been the topic of a number of research analyst reports. Stifel Nicolaus upped their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets upped their price target 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. Benchmark upped their price objective on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of UFP Industries in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, UFP Industries has a consensus rating of “Moderate Buy” and an average price target 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.