River Road Asset Management LLC lifted its position in shares of UFP Industries, Inc. (NASDAQ:UFPI – Free Report) by 64.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 879,935 shares of the construction company’s stock after purchasing an additional 343,830 shares during the quarter. River Road Asset Management LLC’s holdings in UFP Industries were worth $80,118,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of UFP Industries by 3.0% in the 1st quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock valued at $6,597,000 after purchasing an additional 1,798 shares during the period. Integrated Wealth Concepts LLC grew its position in UFP Industries by 8.1% during the first quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock valued at $317,000 after buying an additional 221 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in UFP Industries by 10.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock valued at $13,831,000 after buying an additional 12,043 shares during the period. EverSource Wealth Advisors LLC increased its holdings in UFP Industries by 90.9% in the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock valued at $54,000 after buying an additional 259 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in UFP Industries in the second quarter valued at $232,000. 81.81% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Benchmark lowered their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. DA Davidson dropped their price objective on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Stifel Nicolaus cut their price objective on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Finally, BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a research report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, UFP Industries presently has an average rating of “Hold” and a consensus price target of $105.40.
UFP Industries Price Performance
Shares of UFP Industries stock opened at $86.58 on Friday. The stock has a market capitalization of $4.89 billion, a P/E ratio of 18.90 and a beta of 1.24. The business has a 50 day simple moving average of $86.52 and a two-hundred day simple moving average of $94.19. UFP Industries, Inc. has a 12 month low of $77.89 and a 12 month high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07.
UFP Industries (NASDAQ:UFPI – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the prior year, the firm earned $1.30 earnings per share. The business’s revenue was down 8.4% on a year-over-year basis. As a group, analysts predict that UFP Industries, Inc. will post 4.6 EPS for the current fiscal year.
UFP Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, June 1st. UFP Industries’s payout ratio is 31.44%.
UFP Industries Company 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.
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