K.J. Harrison & Partners Inc Makes New Investment in UFP Industries, Inc. $UFPI

K.J. Harrison & Partners Inc bought a new position in UFP Industries, Inc. (NASDAQ:UFPI) in the 4th quarter, HoldingsChannel reports. The fund bought 12,000 shares of the construction company’s stock, valued at approximately $1,093,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of UFPI. Geneos Wealth Management Inc. grew its position in UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after purchasing an additional 114 shares during the last quarter. Signaturefd LLC grew its position in UFP Industries by 66.1% in the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock worth $35,000 after purchasing an additional 154 shares during the last quarter. Danske Bank A S grew its position in UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in UFP Industries by 648.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company’s stock worth $41,000 after purchasing an additional 376 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new position in UFP Industries in the 4th quarter worth about $43,000. Institutional investors own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on UFPI. BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research report on Tuesday. DA Davidson decreased their target price on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Zacks Research cut shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. Finally, Benchmark reduced their price target on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $107.60.

UFP Industries Trading Down 0.5%

Shares of NASDAQ:UFPI opened at $83.86 on Friday. The company has a 50 day moving average of $93.13 and a 200-day moving average of $96.17. The firm has a market cap of $4.76 billion, a P/E ratio of 18.31 and a beta of 1.29. UFP Industries, Inc. has a twelve month low of $80.06 and a twelve month high of $118.00. The company has a current ratio of 4.64, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The company’s revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, analysts anticipate that UFP Industries, Inc. will post 4.8 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, June 1st. UFP Industries’s dividend payout ratio is currently 31.44%.

UFP Industries Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.