Cibc World Markets Corp Invests $638,000 in UFP Industries, Inc. (NASDAQ:UFPI)

Cibc World Markets Corp acquired a new position in UFP Industries, Inc. (NASDAQ:UFPI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,663 shares of the construction company’s stock, valued at approximately $638,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UFPI. Raymond James Financial Inc. acquired a new stake in shares of UFP Industries in the fourth quarter worth $30,457,000. FMR LLC grew its position in UFP Industries by 13.4% during the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock valued at $214,604,000 after buying an additional 193,891 shares during the period. Franklin Resources Inc. grew its position in UFP Industries by 18.2% during the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after buying an additional 188,969 shares during the period. Wasatch Advisors LP grew its position in UFP Industries by 16.1% during the third quarter. Wasatch Advisors LP now owns 590,712 shares of the construction company’s stock valued at $77,507,000 after buying an additional 81,950 shares during the period. Finally, Barclays PLC grew its position in UFP Industries by 109.0% during the third quarter. Barclays PLC now owns 135,996 shares of the construction company’s stock valued at $17,844,000 after buying an additional 70,927 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Stock Performance

UFPI opened at $107.50 on Friday. 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 company has a market cap of $6.54 billion, a price-to-earnings ratio of 15.88 and a beta of 1.52. UFP Industries, Inc. has a 52-week low of $102.35 and a 52-week high of $141.33. The firm’s fifty day simple moving average is $112.19 and its two-hundred day simple moving average is $121.26.

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

UFP Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.30%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date was Monday, March 3rd. UFP Industries’s dividend payout ratio (DPR) is presently 20.68%.

Analyst Upgrades and Downgrades

Several analysts recently commented on UFPI shares. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Benchmark restated a “buy” rating and set a $135.00 price target on shares of UFP Industries in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.