D.A. Davidson & CO. Buys 2,807 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

D.A. Davidson & CO. grew its stake in UFP Industries, Inc. (NASDAQ:UFPIFree Report) by 14.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,789 shares of the construction company’s stock after buying an additional 2,807 shares during the period. D.A. Davidson & CO.’s holdings in UFP Industries were worth $2,334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of UFPI. Stonebridge Capital Advisors LLC bought a new position in shares of UFP Industries during the 2nd quarter valued at $44,000. Ronald Blue Trust Inc. grew its holdings in shares of UFP Industries by 64.2% during the 3rd quarter. Ronald Blue Trust Inc. now owns 473 shares of the construction company’s stock valued at $46,000 after purchasing an additional 185 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in shares of UFP Industries during the 4th quarter valued at $59,000. Point72 Hong Kong Ltd bought a new position in shares of UFP Industries during the 1st quarter valued at $62,000. Finally, Covestor Ltd grew its holdings in shares of UFP Industries by 21.1% during the 1st quarter. Covestor Ltd now owns 1,184 shares of the construction company’s stock valued at $91,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 79.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on UFPI shares. Stifel Nicolaus increased their target price on shares of UFP Industries from $112.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Wedbush reissued a “neutral” rating and set a $102.00 price target on shares of UFP Industries in a research report on Tuesday, October 31st. Finally, DA Davidson cut shares of UFP Industries from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $122.00 to $106.00 in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $108.60.

Read Our Latest Report on UFP Industries

UFP Industries Stock Up 1.2 %

NASDAQ:UFPI opened at $118.90 on Friday. The firm has a market cap of $7.33 billion, a P/E ratio of 13.92 and a beta of 1.49. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.93 and a current ratio of 4.16. UFP Industries, Inc. has a fifty-two week low of $75.01 and a fifty-two week high of $128.65. The firm has a 50-day simple moving average of $118.49 and a two-hundred day simple moving average of $108.01.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This is a positive change from UFP Industries’s previous quarterly dividend of $0.20. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.11%. UFP Industries’s payout ratio is currently 14.05%.

About UFP Industries

(Free Report)

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.

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Institutional Ownership by Quarter for UFP Industries (NASDAQ:UFPI)

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