Creative Planning Has $2.64 Million Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Creative Planning increased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 8.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,584 shares of the construction company’s stock after acquiring an additional 1,907 shares during the quarter. Creative Planning’s holdings in UFP Industries were worth $2,641,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Henrickson Nauta Wealth Advisors Inc. boosted its position in UFP Industries by 82.3% during the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock worth $29,007,000 after purchasing an additional 114,166 shares during the period. AQR Capital Management LLC raised its holdings in UFP Industries by 22.7% in the 2nd quarter. AQR Capital Management LLC now owns 608,187 shares of the construction company’s stock valued at $67,594,000 after acquiring an additional 112,518 shares during the period. Picton Mahoney Asset Management lifted its position in UFP Industries by 103.3% during the second quarter. Picton Mahoney Asset Management now owns 115,549 shares of the construction company’s stock worth $12,941,000 after acquiring an additional 58,724 shares during the last quarter. F M Investments LLC bought a new stake in shares of UFP Industries during the second quarter worth approximately $6,028,000. Finally, First Trust Advisors LP lifted its holdings in UFP Industries by 21.0% during the 4th quarter. First Trust Advisors LP now owns 291,228 shares of the construction company’s stock worth $36,564,000 after purchasing an additional 50,537 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Up 0.1 %

UFPI opened at $129.71 on Friday. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 16.13 and a beta of 1.39. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a twelve month low of $90.62 and a twelve month high of $136.93. The company has a 50-day simple moving average of $122.85 and a 200 day simple moving average of $118.89.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The firm 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 earned $2.36 earnings per share. The company’s quarterly revenue was down 6.9% on a year-over-year basis. Analysts predict that UFP Industries, Inc. will post 7.27 EPS for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, August 30th. UFP Industries’s payout ratio is 16.42%.

Analysts Set New Price Targets

A number of brokerages have commented on UFPI. BMO Capital Markets upped their price objective on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Wedbush restated a “neutral” rating and issued a $120.00 price target (up from $102.00) on shares of UFP Industries in a research note on Tuesday, July 30th. Stifel Nicolaus lifted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Benchmark increased their target price on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus 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.