Proficio Capital Partners LLC Invests $4.30 Million in UFP Industries, Inc. (NASDAQ:UFPI)

Proficio Capital Partners LLC purchased a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 38,188 shares of the construction company’s stock, valued at approximately $4,302,000. Proficio Capital Partners LLC owned approximately 0.06% of UFP Industries at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of UFP Industries by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock worth $82,847,000 after acquiring an additional 60,859 shares in the last quarter. Citigroup Inc. grew its position in shares of UFP Industries by 50.7% in the third quarter. Citigroup Inc. now owns 119,426 shares of the construction company’s stock valued at $15,670,000 after purchasing an additional 40,162 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of UFP Industries by 3.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company’s stock valued at $102,158,000 after purchasing an additional 31,381 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in UFP Industries by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 769,841 shares of the construction company’s stock worth $101,011,000 after purchasing an additional 4,006 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in UFP Industries by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock worth $213,000 after purchasing an additional 97 shares in the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Price Performance

UFP Industries stock opened at $107.23 on Tuesday. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 15.84 and a beta of 1.52. The company has a quick ratio of 3.25, a current ratio of 4.88 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $112.33 and a 200 day simple moving average of $121.62. UFP Industries, Inc. has a 52 week low of $102.35 and a 52 week high of $141.33.

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

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Monday, March 3rd. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s payout ratio is currently 20.68%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. StockNews.com lowered UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.