Picton Mahoney Asset Management Acquires 21,880 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Picton Mahoney Asset Management boosted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 140,161 shares of the construction company’s stock after acquiring an additional 21,880 shares during the period. Picton Mahoney Asset Management owned approximately 0.23% of UFP Industries worth $15,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Impact Capital Partners LLC bought a new position in UFP Industries during the fourth quarter worth about $550,000. Avantax Advisory Services Inc. boosted its position in shares of UFP Industries by 4.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,286 shares of the construction company’s stock worth $370,000 after buying an additional 147 shares during the period. Johnson Investment Counsel Inc. grew its holdings in shares of UFP Industries by 40.9% during the fourth quarter. Johnson Investment Counsel Inc. now owns 19,905 shares of the construction company’s stock worth $2,242,000 after buying an additional 5,780 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of UFP Industries by 23.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,793 shares of the construction company’s stock worth $1,892,000 after buying an additional 3,151 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in UFP Industries by 31.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,227 shares of the construction company’s stock valued at $701,000 after buying an additional 1,480 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a research note on Wednesday, February 19th. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Stock Performance

Shares of NASDAQ:UFPI opened at $106.55 on Friday. UFP Industries, Inc. has a 12-month low of $102.35 and a 12-month high of $141.33. The company’s 50 day moving average price is $112.53 and its two-hundred day moving average price is $121.83. The firm has a market cap of $6.46 billion, a PE ratio of 15.74 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.

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

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.35 per share. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.40 annualized dividend and a yield of 1.31%. UFP Industries’s dividend payout ratio is currently 20.68%.

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.