Handelsbanken Fonder AB Has $1.67 Million Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Handelsbanken Fonder AB grew its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 10.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,695 shares of the construction company’s stock after purchasing an additional 1,200 shares during the period. Handelsbanken Fonder AB’s holdings in UFP Industries were worth $1,666,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in UFPI. Headlands Technologies LLC bought a new position in UFP Industries in the 2nd quarter valued at approximately $29,000. Opal Wealth Advisors LLC acquired a new stake in shares of UFP Industries during the 1st quarter valued at $33,000. Rise Advisors LLC acquired a new stake in shares of UFP Industries during the 1st quarter valued at $33,000. Triad Wealth Partners LLC bought a new stake in UFP Industries during the 2nd quarter worth $56,000. Finally, GAMMA Investing LLC raised its position in UFP Industries by 84.2% in the second quarter. GAMMA Investing LLC now owns 512 shares of the construction company’s stock valued at $57,000 after purchasing an additional 234 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on UFPI shares. Benchmark boosted their price target on UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets upped 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. Wedbush upgraded shares of UFP Industries from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $120.00 to $155.00 in a report on Tuesday. Stifel Nicolaus boosted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com lowered UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.60.

UFP Industries Stock Down 1.8 %

Shares of NASDAQ UFPI opened at $134.55 on Friday. The company’s 50 day moving average price is $123.16 and its 200-day moving average price is $119.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.18 and a current ratio of 4.34. UFP Industries, Inc. has a 52-week low of $90.62 and a 52-week high of $137.09. The company has a market capitalization of $8.31 billion, a P/E ratio of 16.74 and a beta of 1.39.

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

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, August 30th. UFP Industries’s payout ratio is 16.42%.

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.