Ironwood Investment Management LLC Raises Position in UFP Industries, Inc. (NASDAQ:UFPI)

Ironwood Investment Management LLC lifted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,675 shares of the construction company’s stock after buying an additional 155 shares during the quarter. UFP Industries accounts for approximately 0.9% of Ironwood Investment Management LLC’s holdings, making the stock its 28th largest holding. Ironwood Investment Management LLC’s holdings in UFP Industries were worth $1,766,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in UFP Industries in the 4th quarter valued at about $30,457,000. FMR LLC lifted its stake in shares of UFP Industries by 13.4% in the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock worth $214,604,000 after acquiring an additional 193,891 shares in the last quarter. Franklin Resources Inc. boosted its holdings in UFP Industries by 18.2% in the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after purchasing an additional 188,969 shares during the last quarter. Wasatch Advisors LP grew its stake in UFP Industries by 16.1% during the 3rd quarter. Wasatch Advisors LP now owns 590,712 shares of the construction company’s stock valued at $77,507,000 after purchasing an additional 81,950 shares in the last quarter. Finally, Barclays PLC increased its holdings in UFP Industries by 109.0% during the 3rd quarter. Barclays PLC now owns 135,996 shares of the construction company’s stock worth $17,844,000 after purchasing an additional 70,927 shares during the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Price Performance

Shares of UFPI opened at $106.55 on Friday. UFP Industries, Inc. has a 52 week low of $102.35 and a 52 week high of $141.33. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 15.74 and a beta of 1.52. The stock has a 50 day moving average of $112.53 and a 200-day moving average of $121.83.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. As a group, analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio is currently 20.68%.

Analysts Set New Price Targets

Several equities analysts have recently commented on UFPI shares. StockNews.com cut UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark reiterated a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, UFP Industries presently 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.