nVerses Capital LLC Acquires Shares of 2,600 UFP Industries, Inc. (NASDAQ:UFPI)

nVerses Capital LLC acquired a new stake in UFP Industries, Inc. (NASDAQ:UFPI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,600 shares of the construction company’s stock, valued at approximately $291,000.

Several other large investors also recently added to or reduced their stakes in UFPI. Norges Bank purchased a new stake in UFP Industries in the 4th quarter valued at about $86,885,000. Wells Fargo & Company MN boosted its position in UFP Industries by 871.3% in the 4th quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock valued at $51,741,000 after buying an additional 369,687 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of UFP Industries in the 1st quarter worth approximately $18,245,000. Henrickson Nauta Wealth Advisors Inc. lifted its position in shares of UFP Industries by 82.3% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock worth $29,007,000 after purchasing an additional 114,166 shares during the period. Finally, Picton Mahoney Asset Management lifted its position in shares of UFP Industries by 103.3% in the 2nd quarter. Picton Mahoney Asset Management now owns 115,549 shares of the construction company’s stock worth $12,941,000 after purchasing an additional 58,724 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on UFPI. Wedbush reaffirmed a “neutral” rating and issued a $120.00 price target (up previously from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Benchmark upped their price target on shares of UFP Industries from $133.00 to $155.00 and gave the stock a “buy” rating in a research 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 stock a “market perform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus upped their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.60.

UFP Industries Stock Performance

UFP Industries stock traded up $1.36 during mid-day trading on Friday, reaching $121.67. 194,518 shares of the company traded hands, compared to its average volume of 220,155. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. UFP Industries, Inc. has a fifty-two week low of $90.62 and a fifty-two week high of $136.93. The company has a market capitalization of $7.41 billion, a price-to-earnings ratio of 15.13 and a beta of 1.40. The firm’s fifty day moving average is $118.62 and its two-hundred day moving average is $117.18.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted $2.36 EPS. UFP Industries’s revenue for the quarter was down 6.9% compared to the same quarter last year. On average, equities research analysts expect that UFP Industries, Inc. will post 7.27 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be paid a dividend of $0.33 per share. The ex-dividend date is Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a yield of 1.08%. UFP Industries’s payout ratio is 16.42%.

Insider Buying and Selling at UFP Industries

In other news, insider Patrick M. Benton sold 11,725 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $115.27, for a total value of $1,351,540.75. Following the sale, the insider now owns 97,729 shares in the company, valued at $11,265,221.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.58% of the stock is currently owned by company insiders.

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.