AlphaCrest Capital Management LLC bought a new stake in UFP Industries, Inc. (NASDAQ:UFPI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,235 shares of the construction company’s stock, valued at approximately $538,000.
Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp bought a new position in UFP Industries in the first quarter valued at about $27,000. Berman Capital Advisors LLC acquired a new stake in shares of UFP Industries during the second quarter valued at about $30,000. Eaton Vance Management acquired a new stake in shares of UFP Industries during the first quarter valued at about $56,000. Horan Securities Inc. acquired a new stake in shares of UFP Industries during the second quarter valued at about $64,000. Finally, Federated Hermes Inc. lifted its stake in shares of UFP Industries by 122.8% in the first quarter. Federated Hermes Inc. now owns 900 shares of the construction company’s stock worth $68,000 after acquiring an additional 496 shares during the period. Hedge funds and other institutional investors own 80.04% of the company’s stock.
UFPI stock opened at $73.80 on Thursday. The stock’s fifty day simple moving average is $72.34 and its two-hundred day simple moving average is $75.45. The company has a current ratio of 2.90, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. UFP Industries, Inc. has a 1-year low of $48.82 and a 1-year high of $89.97. The stock has a market cap of $4.56 billion, a P/E ratio of 10.98 and a beta of 1.51.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, August 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. UFP Industries’s dividend payout ratio is presently 15.00%.
A number of research firms recently commented on UFPI. Sidoti raised UFP Industries from a “neutral” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Monday, July 19th. Zacks Investment Research raised UFP Industries from a “hold” rating to a “strong-buy” rating and set a $84.00 price target on the stock in a research note on Monday, July 26th. Finally, BMO Capital Markets boosted their price target on UFP Industries from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Monday, July 26th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries currently has an average rating of “Buy” and a consensus price target of $85.14.
In related news, insider Patrick M. Benton sold 16,728 shares of the stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $75.46, for a total transaction of $1,262,294.88. Following the sale, the insider now owns 98,027 shares of the company’s stock, valued at approximately $7,397,117.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.53% of the company’s stock.
About UFP Industries
UFP Industries, Inc manufactures and distributes wood and wood alternative products. It operates through the following segments: Retail, Industrial and Construction. The Retail segment comprises national home center retailers, retail-oriented regional lumberyards and contractor-oriented lumberyards. The Industrial segment manufacturers pallets, specialty crates, wooden boxes, and other containers used for packaging, shipping and material handling purposes.
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