Envestnet Portfolio Solutions Inc. Raises Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Envestnet Portfolio Solutions Inc. boosted its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 2.4% in the fourth quarter, HoldingsChannel reports. The fund owned 4,382 shares of the construction company’s stock after purchasing an additional 104 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in UFP Industries were worth $494,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings in shares of UFP Industries by 1,683.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after purchasing an additional 505 shares during the last quarter. Jones Financial Companies Lllp raised its stake in UFP Industries by 357.8% in the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after buying an additional 415 shares during the last quarter. Principal Securities Inc. boosted its holdings in UFP Industries by 39.8% in the fourth quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock worth $69,000 after acquiring an additional 175 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of UFP Industries during the fourth quarter worth about $106,000. Finally, Millburn Ridgefield Corp purchased a new stake in shares of UFP Industries during the third quarter worth about $140,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Performance

UFPI opened at $109.99 on Wednesday. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12-month low of $102.35 and a 12-month high of $141.33. The firm has a 50 day moving average of $112.07 and a two-hundred day moving average of $121.27. The firm has a market capitalization of $6.69 billion, a PE ratio of 16.25 and a beta of 1.52.

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

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.35 dividend. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.27%. UFP Industries’s dividend payout ratio is presently 20.68%.

Wall Street Analysts Forecast Growth

UFPI has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $135.00 target price on shares of UFP Industries in a research note on Wednesday, February 19th. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, UFP Industries has an average rating of “Moderate Buy” and a consensus price target of $143.00.

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.