Harbor Capital Advisors Inc. Boosts Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Harbor Capital Advisors Inc. lifted its position in UFP Industries, Inc. (NASDAQ:UFPI) by 117.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,304 shares of the construction company’s stock after acquiring an additional 7,172 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in UFP Industries were worth $1,746,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. increased its stake in UFP Industries by 300.0% in the 3rd quarter. UMB Bank n.a. now owns 192 shares of the construction company’s stock valued at $25,000 after buying an additional 144 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of UFP Industries during the second quarter valued at approximately $29,000. Signaturefd LLC lifted its holdings in UFP Industries by 31.8% during the third quarter. Signaturefd LLC now owns 315 shares of the construction company’s stock worth $41,000 after acquiring an additional 76 shares during the period. Triad Wealth Partners LLC purchased a new position in UFP Industries in the second quarter worth $56,000. Finally, GAMMA Investing LLC grew its stake in UFP Industries by 84.2% in the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

UFPI has been the topic of a number of research analyst reports. Benchmark boosted their price target on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets increased their target price on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus lifted 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. Finally, Wedbush reissued an “outperform” rating and set a $155.00 price objective on shares of UFP Industries in a report on Monday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

UFP Industries Price Performance

UFPI opened at $126.06 on Wednesday. The firm has a 50-day moving average price of $126.96 and a 200-day moving average price of $120.91. UFP Industries, Inc. has a twelve month low of $100.25 and a twelve month high of $139.54. The company has a quick ratio of 3.25, a current ratio of 4.31 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 17.34 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the firm earned $2.10 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. Equities analysts expect that UFP Industries, Inc. will post 7.18 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 1.05%. UFP Industries’s dividend payout ratio (DPR) is 18.16%.

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.