Penobscot Investment Management Company Inc. Buys 1,875 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Penobscot Investment Management Company Inc. raised its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 70.9% in the 4th quarter, HoldingsChannel reports. The firm owned 4,520 shares of the construction company’s stock after purchasing an additional 1,875 shares during the period. Penobscot Investment Management Company Inc.’s holdings in UFP Industries were worth $509,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings in shares of UFP Industries by 1,683.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock worth $60,000 after acquiring an additional 505 shares during the last quarter. Jones Financial Companies Lllp raised its position in UFP Industries by 357.8% during the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after purchasing an additional 415 shares in the last quarter. Principal Securities Inc. lifted its stake in UFP Industries by 39.8% during the fourth quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock worth $69,000 after purchasing an additional 175 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of UFP Industries in the 4th quarter worth about $106,000. Finally, Millburn Ridgefield Corp bought a new position in shares of UFP Industries during the 3rd quarter valued at about $140,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Up 0.2 %

Shares of UFPI stock opened at $110.25 on Thursday. The business has a 50-day moving average of $111.92 and a 200 day moving average of $121.19. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. UFP Industries, Inc. has a 1-year low of $102.35 and a 1-year high of $141.33. The stock has a market capitalization of $6.71 billion, a PE ratio of 16.29 and a beta of 1.52.

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 analysts’ consensus estimates of $1.24 by ($0.04). UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. As a group, sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.35 dividend. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.27%. UFP Industries’s payout ratio is presently 20.68%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on UFPI shares. Benchmark restated a “buy” rating and issued a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

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.