Fri Sep 20 12:31:56 UTC 2024: ## UFP Industries (UFPI) Sees Mixed Activity from Hedge Funds and Analysts

**MarketBeat News** – UFP Industries, Inc. (NASDAQ: UFPI), a leading manufacturer of wood and non-wood composite materials, saw varied activity from hedge funds during the second quarter. Edgestream Partners L.P. reduced its position by 52.8%, while other funds like Price T Rowe Associates Inc. MD and Wells Fargo & Company MN increased their holdings.

Meanwhile, Norges Bank acquired a new stake in the company, indicating potential confidence in UFP Industries’ future. The total ownership of the company by institutional investors and hedge funds stands at 81.81%.

Several brokerages have also released their analyses of UFPI. While StockNews.com downgraded its rating to “buy”, other firms such as Benchmark, BMO Capital Markets, Wedbush, and Stifel Nicolaus maintained or even raised their price targets and ratings. Overall, MarketBeat.com gives UFP Industries an average rating of “Moderate Buy” with a consensus price target of $132.60.

UFP Industries recently reported strong earnings, exceeding analysts’ expectations for the quarter. The company also declared a quarterly dividend of $0.33 per share.

Despite the mixed signals from hedge funds, analysts’ positive outlook, and strong earnings results, it remains to be seen how UFP Industries will perform in the coming months. Investors are encouraged to keep an eye on developments and consider the diverse opinions before making any investment decisions.

Read More