Allspring Global Investments Holdings LLC raised its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI – Get Rating) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 683,199 shares of the construction company's stock after acquiring an additional 6,775 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.11% of UFP Industries worth $49,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. raised its stake in UFP Industries by 550.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 423 shares of the construction company's stock valued at $29,000 after acquiring an additional 358 shares during the last quarter. Pinebridge Investments L.P. raised its stake in UFP Industries by 502.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 602 shares of the construction company's stock valued at $41,000 after acquiring an additional 502 shares during the last quarter. CX Institutional purchased a new stake in UFP Industries during the 2nd quarter valued at approximately $48,000. Point72 Hong Kong Ltd purchased a new stake in UFP Industries during the 1st quarter valued at approximately $62,000. Finally, EverSource Wealth Advisors LLC raised its stake in UFP Industries by 338.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,117 shares of the construction company's stock valued at $76,000 after acquiring an additional 862 shares during the last quarter. 81.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on UFPI. DA Davidson reduced their price objective on UFP Industries to $96.00 in a research note on Thursday, October 27th. StockNews.com assumed coverage on UFP Industries in a research note on Wednesday, October 12th. They set a "buy" rating for the company.

UFP Industries Stock Performance

UFP Industries (NASDAQ:UFPI – Get Rating) last issued its earnings results on Thursday, October 20th. The construction company reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.51 by $0.15. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.28 billion. UFP Industries had a return on equity of 30.87% and a net margin of 7.17%. On average, equities analysts forecast that UFP Industries, Inc. will post 10.69 EPS for the current year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, December 1st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Wednesday, November 30th. UFP Industries's dividend payout ratio is currently 9.01%.

UFP Industries Company Profile

(Get Rating)

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and wood-alternative products in North America, Europe, Asia, and Australia. It operates through Retail, Industrial, and Construction segments. The Retail segment offers preserved and unpreserved dimensional lumber; and outdoor living products, including wood and wood composite decking and related accessories, decorative lawn, garden, craft, and hobby products.

Recommended Stories

• Get a free copy of the StockNews.com research report on UFP Industries (UFPI)
• MarketBeat: Week in Review 01/02-01/06
• Why is the CrowdStrike Stock Price Struggling?
• Four Undervalued Healthcare Stocks for 2023
• WWE Stock: Vince McMahon Wants Back In The Show
• NVIDIA Is Bottoming But Don't Buy It Just Yet

Want to see what other hedge funds are holding UFPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UFP Industries, Inc. (NASDAQ:UFPI – Get Rating).

Receive News & Ratings for UFP Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UFP Industries and related companies with MarketBeat.com's FREE daily email newsletter.