Meeder Asset Management Inc. Buys 105 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Meeder Asset Management Inc. lifted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 14,556 shares of the construction company’s stock after acquiring an additional 105 shares during the period. Meeder Asset Management Inc.’s holdings in UFP Industries were worth $1,630,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Foundry Partners LLC boosted its position in shares of UFP Industries by 13.1% during the 1st quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock valued at $4,811,000 after acquiring an additional 4,526 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of UFP Industries by 28.6% during the 1st quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock valued at $14,150,000 after acquiring an additional 25,508 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of UFP Industries by 299.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock valued at $687,000 after acquiring an additional 4,597 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of UFP Industries during the 1st quarter valued at about $1,214,000. Finally, Empowered Funds LLC boosted its position in shares of UFP Industries by 14.9% during the 1st quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock valued at $6,958,000 after acquiring an additional 7,320 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UFPI has been the topic of several recent research reports. Benchmark lifted their target price on shares of UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wedbush restated a “neutral” rating and issued a $120.00 price target (up from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Stifel Nicolaus boosted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets boosted their price target on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, UFP Industries presently has an average rating of “Moderate Buy” and an average target price of $132.60.

UFP Industries Trading Up 3.4 %

Shares of NASDAQ UFPI opened at $117.33 on Friday. UFP Industries, Inc. has a 1-year low of $90.62 and a 1-year high of $136.93. The company has a market cap of $7.15 billion, a PE ratio of 14.59 and a beta of 1.39. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average of $119.46 and a two-hundred day moving average of $117.21.

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

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, August 30th. UFP Industries’s dividend payout ratio is presently 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.