Vest Financial LLC Purchases 2,358 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Vest Financial LLC lifted its position in UFP Industries, Inc. (NASDAQ:UFPI) by 32.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,562 shares of the construction company’s stock after acquiring an additional 2,358 shares during the period. Vest Financial LLC’s holdings in UFP Industries were worth $1,071,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of UFP Industries in the 2nd quarter worth approximately $29,000. Opal Wealth Advisors LLC bought a new position in shares of UFP Industries in the 1st quarter worth approximately $33,000. Rise Advisors LLC bought a new position in shares of UFP Industries in the 1st quarter worth approximately $33,000. Eagle Bay Advisors LLC bought a new position in UFP Industries during the 4th quarter valued at approximately $49,000. Finally, Triad Wealth Partners LLC bought a new position in UFP Industries during the 2nd quarter valued at approximately $56,000. Institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UFPI shares. Wedbush reaffirmed a “neutral” rating and set a $120.00 price objective (up previously from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Benchmark raised their price objective on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Stifel Nicolaus increased their target price on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets increased their target price on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, UFP Industries currently has an average rating of “Moderate Buy” and an average target price of $132.60.

UFP Industries Stock Performance

Shares of UFPI opened at $117.33 on Friday. The business’s fifty day simple moving average is $119.46 and its two-hundred day simple moving average is $117.21. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12 month low of $90.62 and a 12 month high of $136.93. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 14.59 and a beta of 1.39.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.87 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. The company’s revenue for the quarter was down 6.9% on a year-over-year basis. During the same period last year, the business posted $2.36 EPS. Research analysts anticipate that UFP Industries, Inc. will post 7.27 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.13%. UFP Industries’s dividend payout ratio (DPR) is currently 16.42%.

UFP Industries 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.