Acadian Asset Management LLC Raises Position in UFP Industries, Inc. (NASDAQ:UFPI)

Acadian Asset Management LLC grew its position in UFP Industries, Inc. (NASDAQ:UFPI) by 33.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,177 shares of the construction company’s stock after purchasing an additional 3,300 shares during the quarter. Acadian Asset Management LLC’s holdings in UFP Industries were worth $1,473,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. TFG Advisers LLC raised its holdings in UFP Industries by 5.2% in the first quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock worth $230,000 after buying an additional 92 shares during the last quarter. Cadence Bank raised its holdings in UFP Industries by 0.6% in the first quarter. Cadence Bank now owns 19,464 shares of the construction company’s stock worth $2,394,000 after buying an additional 110 shares during the last quarter. Assetmark Inc. raised its holdings in shares of UFP Industries by 17.3% during the fourth quarter. Assetmark Inc. now owns 873 shares of the construction company’s stock valued at $110,000 after purchasing an additional 129 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of UFP Industries by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 7,732 shares of the construction company’s stock valued at $866,000 after purchasing an additional 130 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of UFP Industries by 0.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 38,766 shares of the construction company’s stock valued at $4,762,000 after purchasing an additional 137 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

UFPI opened at $121.95 on Monday. The firm has a market cap of $7.43 billion, a P/E ratio of 15.17 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 company has a 50 day simple moving average of $119.74 and a two-hundred day simple moving average of $117.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.87 billion. UFP Industries had a net margin of 7.02% and a return on equity of 15.86%. The company’s revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.36 earnings per share. Equities analysts forecast that UFP Industries, Inc. will post 7.27 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be given a $0.33 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.08%. UFP Industries’s payout ratio is currently 16.42%.

Analyst Upgrades and Downgrades

UFPI has been the subject of several research reports. Stifel Nicolaus boosted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wedbush restated a “neutral” rating and set a $120.00 target price (up from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Benchmark boosted their target price on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted 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. Finally, StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.60.

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.