Huntington National Bank Grows Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Huntington National Bank boosted its position in UFP Industries, Inc. (NASDAQ:UFPI) by 19.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,882 shares of the construction company’s stock after buying an additional 304 shares during the quarter. Huntington National Bank’s holdings in UFP Industries were worth $212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of UFP Industries in the fourth quarter valued at approximately $83,149,000. Thrivent Financial for Lutherans grew its stake in UFP Industries by 3,820.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 561,142 shares of the construction company’s stock valued at $63,212,000 after purchasing an additional 546,830 shares during the period. Boston Partners increased its position in shares of UFP Industries by 100.8% during the 4th quarter. Boston Partners now owns 672,231 shares of the construction company’s stock valued at $75,736,000 after purchasing an additional 337,463 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of UFP Industries during the 4th quarter worth $30,457,000. Finally, Franklin Resources Inc. boosted its holdings in shares of UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock worth $169,675,000 after buying an additional 188,969 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Up 2.0 %

Shares of UFP Industries stock opened at $106.44 on Friday. The stock has a market capitalization of $6.47 billion, a P/E ratio of 15.72 and a beta of 1.45. UFP Industries, Inc. has a 52-week low of $100.58 and a 52-week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The stock’s 50-day simple moving average is $110.50 and its 200 day simple moving average is $120.64.

UFP Industries (NASDAQ:UFPI) last posted its quarterly 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). The business 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%. As a group, research 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. Shareholders of record on Monday, March 3rd were given a dividend of $0.35 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.32%. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s dividend payout ratio is currently 20.68%.

Wall Street Analysts Forecast Growth

Several analysts have commented on UFPI shares. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Benchmark reaffirmed a “buy” rating and issued a $135.00 price target on shares of UFP Industries 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries 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.