PNC Financial Services Group Inc. Acquires 1,480 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

PNC Financial Services Group Inc. boosted its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 31.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,227 shares of the construction company’s stock after acquiring an additional 1,480 shares during the period. PNC Financial Services Group Inc.’s holdings in UFP Industries were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in UFP Industries by 1,683.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company’s stock valued at $60,000 after acquiring an additional 505 shares during the period. Jones Financial Companies Lllp grew its holdings in UFP Industries by 357.8% in the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company’s stock valued at $60,000 after buying an additional 415 shares in the last quarter. Principal Securities Inc. grew its holdings in UFP Industries by 39.8% in the 4th quarter. Principal Securities Inc. now owns 615 shares of the construction company’s stock valued at $69,000 after buying an additional 175 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in UFP Industries in the 4th quarter valued at $106,000. Finally, Millburn Ridgefield Corp acquired a new position in UFP Industries in the 3rd quarter valued at $140,000. Institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

UFPI opened at $107.57 on Wednesday. The firm has a market cap of $6.54 billion, a P/E ratio of 15.89 and a beta of 1.52. UFP Industries, Inc. has a 52-week low of $102.35 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 business’s fifty day moving average is $112.29 and its 200-day moving average is $121.52.

UFP Industries (NASDAQ:UFPI) last released its 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 company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. Sell-side analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The firm also recently disclosed 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 an increase from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, March 3rd. UFP Industries’s dividend payout ratio is currently 20.68%.

Wall Street Analyst Weigh In

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

UFP Industries Company 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.