Proficio Capital Partners LLC Makes New Investment in UFP Industries, Inc. (NASDAQ:UFPI)

Proficio Capital Partners LLC purchased a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,188 shares of the construction company’s stock, valued at approximately $4,302,000. Proficio Capital Partners LLC owned approximately 0.06% of UFP Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Principal Securities Inc. boosted its holdings in shares of UFP Industries by 39.8% during the fourth quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock worth $69,000 after purchasing an additional 175 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of UFP Industries during the third quarter worth $94,000. Millburn Ridgefield Corp acquired a new stake in shares of UFP Industries during the third quarter worth $140,000. Blue Trust Inc. boosted its holdings in shares of UFP Industries by 62.1% during the fourth quarter. Blue Trust Inc. now owns 1,796 shares of the construction company’s stock worth $202,000 after purchasing an additional 688 shares during the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of UFP Industries during the third quarter worth $210,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

UFPI has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and issued a $135.00 target price on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com cut UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and a consensus price target of $143.00.

Insiders Place Their Bets

In other UFP Industries news, Director William G. Currie sold 5,700 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $126.59, for a total transaction of $721,563.00. Following the transaction, the director now owns 61,140 shares in the company, valued at $7,739,712.60. The trade was a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.58% of the stock is currently owned by insiders.

UFP Industries Price Performance

Shares of UFP Industries stock opened at $103.91 on Wednesday. The business’s fifty day moving average price is $113.56 and its 200 day moving average price is $122.64. The stock has a market capitalization of $6.30 billion, a P/E ratio of 15.35 and a beta of 1.45. UFP Industries, Inc. has a twelve month low of $102.35 and a twelve month high of $141.33. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. As a group, research analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Monday, March 3rd. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s payout ratio is currently 20.68%.

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.