Empowered Funds LLC Buys 7,320 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Empowered Funds LLC raised its position in UFP Industries, Inc. (NASDAQ:UFPI) by 14.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 56,562 shares of the construction company’s stock after buying an additional 7,320 shares during the period. Empowered Funds LLC’s holdings in UFP Industries were worth $6,958,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new position in shares of UFP Industries during the fourth quarter valued at $27,000. GAMMA Investing LLC acquired a new stake in UFP Industries in the fourth quarter worth about $30,000. Rise Advisors LLC bought a new stake in UFP Industries during the 1st quarter worth about $33,000. Opal Wealth Advisors LLC acquired a new position in UFP Industries during the 1st quarter valued at about $33,000. Finally, SRS Capital Advisors Inc. lifted its position in UFP Industries by 218.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock valued at $36,000 after purchasing an additional 197 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on UFPI. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Benchmark lowered their target price on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and a consensus price target of $116.50.

Insider Activity

In related news, Director Bruce A. Merino sold 16,472 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the sale, the director now owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Bruce A. Merino sold 16,472 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the completion of the sale, the director now directly owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Tutas sold 3,038 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $120.21, for a total transaction of $365,197.98. Following the sale, the insider now owns 21,374 shares in the company, valued at $2,569,368.54. The disclosure for this sale can be found here. Insiders sold 32,687 shares of company stock valued at $3,831,653 in the last quarter. Company insiders own 2.58% of the company’s stock.

UFP Industries Price Performance

Shares of UFPI opened at $117.77 on Friday. The stock has a market cap of $7.27 billion, a P/E ratio of 14.65 and a beta of 1.40. UFP Industries, Inc. has a 1 year low of $90.62 and a 1 year high of $128.65. The stock’s 50-day moving average price is $115.58 and its two-hundred day moving average price is $116.19. The company has a current ratio of 4.79, a quick ratio of 3.37 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Tuesday, April 30th. The construction company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. UFP Industries’s revenue for the quarter was down 10.1% on a year-over-year basis. During the same period last year, the company posted $1.98 EPS. On average, equities analysts predict that UFP Industries, Inc. will post 7.53 earnings per share for the current year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.12%. UFP Industries’s dividend payout ratio is 16.42%.

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.