Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in UFP Industries, Inc. (NASDAQ:UFPI)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 23.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,793 shares of the construction company’s stock after acquiring an additional 3,151 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in UFP Industries were worth $1,892,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in UFP Industries by 1,683.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock worth $60,000 after buying an additional 505 shares in the last quarter. Jones Financial Companies Lllp raised its position in UFP Industries by 357.8% during the fourth quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock worth $60,000 after acquiring an additional 415 shares during the last quarter. Principal Securities Inc. raised its position in UFP Industries by 39.8% during the fourth quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock worth $69,000 after acquiring an additional 175 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in UFP Industries during the fourth quarter worth about $106,000. Finally, Millburn Ridgefield Corp acquired a new position in UFP Industries during the third quarter worth about $140,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $107.23 on Tuesday. The firm has a 50 day simple moving average of $112.33 and a 200-day simple moving average of $121.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.88 and a quick ratio of 3.25. The firm has a market cap of $6.50 billion, a PE ratio of 15.84 and a beta of 1.52. UFP Industries, Inc. has a 1-year low of $102.35 and a 1-year high of $141.33.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 earnings per share 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 analyst estimates of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. On average, equities analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Monday, March 3rd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. UFP Industries’s payout ratio is currently 20.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Benchmark restated a “buy” rating and set a $135.00 target price on shares of UFP Industries in a research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

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.