Huntington National Bank Has $212,000 Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Huntington National Bank increased its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 19.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,882 shares of the construction company’s stock after acquiring an additional 304 shares during the quarter. Huntington National Bank’s holdings in UFP Industries were worth $212,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Walleye Capital LLC acquired a new position in shares of UFP Industries in the 3rd quarter worth approximately $556,000. Benjamin Edwards Inc. lifted its holdings in UFP Industries by 11.8% in the third quarter. Benjamin Edwards Inc. now owns 2,849 shares of the construction company’s stock valued at $375,000 after buying an additional 301 shares during the period. HighTower Advisors LLC boosted its position in UFP Industries by 11.0% during the third quarter. HighTower Advisors LLC now owns 5,884 shares of the construction company’s stock valued at $773,000 after acquiring an additional 582 shares during the last quarter. IHT Wealth Management LLC acquired a new stake in UFP Industries during the 3rd quarter worth about $285,000. Finally, Quantinno Capital Management LP acquired a new position in shares of UFP Industries in the 3rd quarter valued at about $321,000. 81.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on UFPI shares. StockNews.com downgraded UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Benchmark reiterated a “buy” rating and set a $135.00 target price on shares of UFP Industries in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, UFP Industries has a consensus rating of “Moderate Buy” and a consensus price target of $143.00.

UFP Industries Stock Up 2.0 %

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

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. As a group, research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.35 per share. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.40 annualized dividend and a dividend yield of 1.32%. UFP Industries’s payout ratio is presently 20.68%.

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.