Van ECK Associates Corp Acquires 3,739 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Van ECK Associates Corp increased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 26.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,906 shares of the construction company’s stock after acquiring an additional 3,739 shares during the quarter. Van ECK Associates Corp’s holdings in UFP Industries were worth $2,248,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. NewEdge Wealth LLC bought a new stake in UFP Industries during the fourth quarter worth $3,046,000. American Century Companies Inc. raised its stake in shares of UFP Industries by 42.2% in the third quarter. American Century Companies Inc. now owns 252,270 shares of the construction company’s stock valued at $25,832,000 after buying an additional 74,852 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of UFP Industries by 257.0% in the third quarter. O Shaughnessy Asset Management LLC now owns 17,438 shares of the construction company’s stock valued at $1,786,000 after buying an additional 12,553 shares during the period. Raymond James & Associates raised its stake in shares of UFP Industries by 133.2% in the fourth quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock valued at $23,623,000 after buying an additional 107,477 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of UFP Industries by 7.3% in the third quarter. Stifel Financial Corp now owns 29,079 shares of the construction company’s stock valued at $2,978,000 after buying an additional 1,982 shares during the period. 81.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Matthew J. Missad sold 5,018 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $114.05, for a total transaction of $572,302.90. Following the completion of the transaction, the chief executive officer now directly owns 363,328 shares in the company, valued at $41,437,558.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.58% of the stock is owned by company insiders.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $116.82 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.37 and a current ratio of 4.79. UFP Industries, Inc. has a 52-week low of $77.47 and a 52-week high of $128.65. The firm has a market cap of $7.19 billion, a price-to-earnings ratio of 14.53 and a beta of 1.47. The business’s fifty day moving average is $116.09 and its 200 day moving average is $114.31.

UFP Industries (NASDAQ:UFPI) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.62 by $0.34. UFP Industries had a return on equity of 17.07% and a net margin of 7.24%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business earned $1.98 earnings per share. The firm’s revenue was down 10.1% on a year-over-year basis. Research analysts predict that UFP Industries, Inc. will post 7.37 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.13%. The ex-dividend date is Friday, May 31st. UFP Industries’s payout ratio is 16.42%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stifel Nicolaus boosted their target price on UFP Industries from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Wedbush restated a “neutral” rating and issued a $102.00 target price on shares of UFP Industries in a research note on Thursday, February 22nd. Benchmark lowered their target price on UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and an average price target of $113.20.

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.