Planned Solutions Inc. Invests $88,000 in UFP Industries, Inc. (NASDAQ:UFPI)

Planned Solutions Inc. bought a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the fourth quarter, Holdings Channel reports. The institutional investor bought 700 shares of the construction company’s stock, valued at approximately $88,000.

A number of other institutional investors have also added to or reduced their stakes in UFPI. Pacer Advisors Inc. raised its position in UFP Industries by 31.4% in the 4th quarter. Pacer Advisors Inc. now owns 12,316 shares of the construction company’s stock valued at $1,546,000 after buying an additional 2,941 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of UFP Industries by 559.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 38,348 shares of the construction company’s stock valued at $4,815,000 after purchasing an additional 32,534 shares in the last quarter. Raymond James & Associates boosted its holdings in UFP Industries by 133.2% during the fourth quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock worth $23,623,000 after purchasing an additional 107,477 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in UFP Industries in the 4th quarter worth about $27,000. Finally, Vest Financial LLC bought a new position in shares of UFP Industries during the 4th quarter worth approximately $241,000. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Stock Up 3.3 %

Shares of NASDAQ:UFPI opened at $121.79 on Thursday. The firm has a fifty day moving average price of $115.58 and a two-hundred day moving average price of $111.16. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 15.11 and a beta of 1.48. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.41 and a quick ratio of 3.12. UFP Industries, Inc. has a one year low of $75.65 and a one year high of $128.65.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Tuesday, February 20th. The construction company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.06). UFP Industries had a net margin of 7.12% and a return on equity of 17.86%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Analysts anticipate that UFP Industries, Inc. will post 7.39 EPS for the current fiscal year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.32 annualized dividend and a yield of 1.08%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.20. UFP Industries’s dividend payout ratio is currently 16.38%.

Insiders Place Their Bets

In other UFP Industries news, CEO Matthew J. Missad sold 5,018 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $114.05, for a total value of $572,302.90. Following the completion of the sale, the chief executive officer now directly owns 363,328 shares of the company’s stock, valued at $41,437,558.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stifel Nicolaus lifted their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. StockNews.com upgraded UFP Industries from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 19th. Benchmark boosted their target price on shares of UFP Industries from $120.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Wedbush restated a “neutral” rating and set a $102.00 target price on shares of UFP Industries in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.00.

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.