Edgestream Partners L.P. Lowers Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Edgestream Partners L.P. trimmed its position in UFP Industries, Inc. (NASDAQ:UFPI) by 52.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,296 shares of the construction company’s stock after selling 19,312 shares during the period. Edgestream Partners L.P.’s holdings in UFP Industries were worth $1,937,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TFG Advisers LLC boosted its stake in shares of UFP Industries by 5.2% during the 1st quarter. TFG Advisers LLC now owns 1,871 shares of the construction company’s stock worth $230,000 after purchasing an additional 92 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in UFP Industries by 0.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 14,556 shares of the construction company’s stock worth $1,630,000 after buying an additional 105 shares during the last quarter. Cadence Bank grew its holdings in UFP Industries by 0.6% in the 1st quarter. Cadence Bank now owns 19,464 shares of the construction company’s stock valued at $2,394,000 after buying an additional 110 shares during the period. Assetmark Inc. increased its stake in shares of UFP Industries by 17.3% during the 4th quarter. Assetmark Inc. now owns 873 shares of the construction company’s stock valued at $110,000 after acquiring an additional 129 shares during the last quarter. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of UFP Industries by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,732 shares of the construction company’s stock worth $866,000 after acquiring an additional 130 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently issued reports on UFPI. 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 report on Wednesday, July 31st. Stifel Nicolaus upped their price objective on UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com cut UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Wedbush restated a “neutral” rating and set a $120.00 price target (up from $102.00) on shares of UFP Industries in a research note on Tuesday, July 30th. Finally, Benchmark lifted their price target 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.60.

UFP Industries Trading Up 3.4 %

NASDAQ UFPI opened at $132.84 on Friday. The stock has a market cap of $8.09 billion, a P/E ratio of 16.52 and a beta of 1.39. The company’s fifty day simple moving average is $120.77 and its 200-day simple moving average is $117.54. 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, Inc. has a 52 week low of $90.62 and a 52 week high of $136.93.

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

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were issued a dividend of $0.33 per share. The ex-dividend date was Friday, August 30th. This represents a $1.32 annualized dividend and a yield of 0.99%. UFP Industries’s dividend payout ratio is presently 16.42%.

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.