Penobscot Investment Management Company Inc. Acquires 1,875 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Penobscot Investment Management Company Inc. raised its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 70.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,520 shares of the construction company’s stock after purchasing an additional 1,875 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in UFP Industries were worth $509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of UFP Industries by 6.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,796 shares of the construction company’s stock worth $202,000 after purchasing an additional 105 shares during the last quarter. Prudential Financial Inc. increased its position in UFP Industries by 14.2% in the fourth quarter. Prudential Financial Inc. now owns 107,878 shares of the construction company’s stock worth $12,152,000 after buying an additional 13,405 shares during the last quarter. Bridge City Capital LLC raised its stake in shares of UFP Industries by 8.1% in the fourth quarter. Bridge City Capital LLC now owns 55,978 shares of the construction company’s stock valued at $6,306,000 after buying an additional 4,176 shares during the period. LPL Financial LLC lifted its position in shares of UFP Industries by 3.0% during the 4th quarter. LPL Financial LLC now owns 16,410 shares of the construction company’s stock valued at $1,849,000 after buying an additional 484 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of UFP Industries during the 4th quarter worth $1,983,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on UFPI. Benchmark reaffirmed a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.00.

UFP Industries Stock Up 0.2 %

Shares of NASDAQ UFPI opened at $110.25 on Thursday. 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 $6.71 billion, a P/E ratio of 16.29 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 business has a 50-day simple moving average of $111.92 and a two-hundred day simple moving average of $121.19.

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

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.27%. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio is presently 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.