UFP Industries, Inc. $UFPI Shares Bought by Wasatch Advisors LP

Wasatch Advisors LP raised its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 32.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,037,908 shares of the construction company’s stock after purchasing an additional 504,609 shares during the period. UFP Industries accounts for 1.2% of Wasatch Advisors LP’s holdings, making the stock its 28th biggest position. Wasatch Advisors LP owned about 3.59% of UFP Industries worth $187,732,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of UFP Industries during the 4th quarter worth about $75,183,000. River Road Asset Management LLC boosted its holdings in UFP Industries by 64.1% in the 4th quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock worth $80,118,000 after buying an additional 343,830 shares during the last quarter. Millennium Management LLC increased its stake in UFP Industries by 209.9% during the 3rd quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock worth $39,765,000 after buying an additional 288,093 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of UFP Industries by 2,178.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 213,320 shares of the construction company’s stock valued at $19,423,000 after acquiring an additional 203,957 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of UFP Industries during the second quarter valued at approximately $20,151,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UFPI. Stifel Nicolaus lowered their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. BMO Capital Markets raised UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research note on Tuesday, May 5th. Benchmark decreased their price objective on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. DA Davidson lowered their target price on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings lowered shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $105.40.

UFP Industries Price Performance

UFPI stock opened at $92.20 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. The business has a 50 day simple moving average of $85.70 and a 200-day simple moving average of $94.03. The firm has a market capitalization of $5.21 billion, a PE ratio of 20.13 and a beta of 1.24. UFP Industries, Inc. has a 1 year low of $77.89 and a 1 year high of $118.00.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.30 EPS. Equities research analysts anticipate that UFP Industries, Inc. will post 4.6 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 1st. UFP Industries’s payout ratio is currently 31.44%.

About UFP Industries

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.