Harfst & Associates Inc. Acquires 835 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Harfst & Associates Inc. boosted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,683 shares of the construction company’s stock after acquiring an additional 835 shares during the period. UFP Industries accounts for about 0.7% of Harfst & Associates Inc.’s investment portfolio, making the stock its 18th largest holding. Harfst & Associates Inc.’s holdings in UFP Industries were worth $3,107,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. B. Riley Wealth Advisors Inc. purchased a new position in shares of UFP Industries in the 4th quarter worth about $201,000. Los Angeles Capital Management LLC lifted its stake in shares of UFP Industries by 5.3% in the first quarter. Los Angeles Capital Management LLC now owns 28,238 shares of the construction company’s stock worth $3,474,000 after buying an additional 1,425 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of UFP Industries during the first quarter valued at approximately $33,000. Bridge City Capital LLC raised its holdings in UFP Industries by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 36,246 shares of the construction company’s stock worth $4,459,000 after acquiring an additional 283 shares during the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. raised its holdings in 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 acquiring an additional 114,166 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ:UFPI traded down $1.03 during mid-day trading on Friday, hitting $133.95. 228,522 shares of the company traded hands, compared to its average volume of 280,560. The company has a quick ratio of 3.18, a current ratio of 4.34 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $125.27 and its 200-day moving average price is $119.93. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 16.66 and a beta of 1.39. UFP Industries, Inc. has a one year low of $90.62 and a one year high of $139.54.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the company posted $2.36 earnings per share. The company’s revenue for the quarter was down 6.9% compared to the same quarter last year. Research analysts anticipate that UFP Industries, Inc. will post 7.29 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a $0.33 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.32 annualized dividend and a dividend yield of 0.99%. UFP Industries’s payout ratio is 16.42%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UFPI shares. Wedbush raised UFP Industries from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $120.00 to $155.00 in a report on Tuesday, October 8th. StockNews.com cut shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Stifel Nicolaus lifted their price target on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets increased their price objective on shares of UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Finally, Benchmark lifted their target price 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, UFP Industries currently has an average rating of “Moderate Buy” and an average target price of $139.60.

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.