Quest Partners LLC Has $1.26 Million Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Quest Partners LLC boosted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 273.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,220 shares of the construction company’s stock after acquiring an additional 8,214 shares during the quarter. Quest Partners LLC’s holdings in UFP Industries were worth $1,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Foundry Partners LLC grew its position in UFP Industries by 13.1% during the 1st quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock worth $4,811,000 after acquiring an additional 4,526 shares during the last quarter. Nordea Investment Management AB lifted its position in UFP Industries by 28.6% during the 1st quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock worth $14,150,000 after buying an additional 25,508 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in UFP Industries by 299.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after buying an additional 4,597 shares in the last quarter. Acadian Asset Management LLC bought a new stake in UFP Industries during the 1st quarter worth about $1,214,000. Finally, Empowered Funds LLC increased its position in UFP Industries by 14.9% in the 1st quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock valued at $6,958,000 after acquiring an additional 7,320 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Patrick M. Benton sold 11,725 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the transaction, the insider now directly owns 97,729 shares of the company’s stock, valued at $11,265,221.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.58% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Benchmark boosted their target price on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wedbush reiterated a “neutral” rating and issued a $120.00 price objective (up from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Finally, Stifel Nicolaus upped their target price on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.60.

UFP Industries Price Performance

Shares of UFPI opened at $112.81 on Tuesday. The stock has a market cap of $6.87 billion, a P/E ratio of 14.03 and a beta of 1.39. UFP Industries, Inc. has a 1 year low of $90.62 and a 1 year high of $136.93. The stock’s 50-day moving average price is $119.13 and its two-hundred day moving average price is $117.21. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The business’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.36 earnings per share. On average, equities analysts predict that UFP Industries, Inc. will post 7.27 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, August 30th. UFP Industries’s dividend payout ratio is 16.42%.

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.