Point72 Asia Singapore Pte. Ltd. Invests $156,000 in UFP Industries, Inc. (NASDAQ:UFPI)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,395 shares of the construction company’s stock, valued at approximately $156,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in shares of UFP Industries during the 2nd quarter valued at $29,000. Rise Advisors LLC bought a new stake in UFP Industries during the first quarter worth about $33,000. Opal Wealth Advisors LLC bought a new stake in UFP Industries during the first quarter worth about $33,000. Triad Wealth Partners LLC purchased a new stake in UFP Industries in the second quarter worth about $56,000. Finally, GAMMA Investing LLC increased its stake in shares of UFP Industries by 84.2% during the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after purchasing an additional 234 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UFPI. BMO Capital Markets upped their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. StockNews.com downgraded UFP Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Benchmark upped their price target on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Wedbush reiterated a “neutral” rating and issued a $120.00 target price (up previously from $102.00) on shares of UFP Industries in a research note on Tuesday, July 30th. Three equities research 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.com, UFP Industries currently has an average rating of “Moderate Buy” and a consensus target price of $132.60.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $131.27 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 16.33 and a beta of 1.39. The business has a 50-day simple moving average of $122.21 and a two-hundred day simple moving average of $118.32. UFP Industries, Inc. has a fifty-two week low of $90.62 and a fifty-two week high of $136.93.

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

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders 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 dividend yield of 1.01%. UFP Industries’s payout ratio is 16.42%.

UFP Industries Company Profile

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.