Thrivent Financial for Lutherans Buys 546,830 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Thrivent Financial for Lutherans boosted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 3,820.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 561,142 shares of the construction company’s stock after acquiring an additional 546,830 shares during the period. Thrivent Financial for Lutherans’ holdings in UFP Industries were worth $63,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cibc World Markets Corp acquired a new stake in shares of UFP Industries in the 4th quarter valued at $638,000. Royce & Associates LP boosted its holdings in shares of UFP Industries by 1.3% in the 4th quarter. Royce & Associates LP now owns 628,569 shares of the construction company’s stock valued at $70,808,000 after purchasing an additional 8,257 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of UFP Industries by 2.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,382 shares of the construction company’s stock valued at $494,000 after purchasing an additional 104 shares in the last quarter. Ironwood Investment Management LLC boosted its holdings in shares of UFP Industries by 1.0% in the 4th quarter. Ironwood Investment Management LLC now owns 15,675 shares of the construction company’s stock valued at $1,766,000 after purchasing an additional 155 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its holdings in shares of UFP Industries by 18.5% in the 4th quarter. Picton Mahoney Asset Management now owns 140,161 shares of the construction company’s stock valued at $15,785,000 after purchasing an additional 21,880 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on UFPI shares. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and issued a $135.00 target price on shares of UFP Industries 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Trading Up 0.5 %

NASDAQ UFPI opened at $108.09 on Thursday. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a twelve month low of $102.35 and a twelve month high of $141.33. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 15.97 and a beta of 1.52. The business’s fifty day moving average is $112.26 and its 200 day moving average is $121.42.

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

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.35 per share. The ex-dividend date was Monday, March 3rd. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 1.30%. UFP Industries’s payout ratio is presently 20.68%.

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.