Louisiana State Employees Retirement System bought a new stake in UFP Industries, Inc. (NASDAQ:UFPI – Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,900 shares of the construction company’s stock, valued at approximately $1,557,000.
Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in UFP Industries by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,247,346 shares of the construction company’s stock valued at $114,980,000 after acquiring an additional 23,905 shares during the period. Numerai GP LLC bought a new position in shares of UFP Industries during the 3rd quarter valued at about $3,562,000. SG Americas Securities LLC lifted its holdings in shares of UFP Industries by 454.4% during the 4th quarter. SG Americas Securities LLC now owns 21,499 shares of the construction company’s stock valued at $1,957,000 after purchasing an additional 17,621 shares in the last quarter. Flagship Capital Management Inc. acquired a new position in shares of UFP Industries in the 4th quarter valued at approximately $1,550,000. Finally, Horizon Investments LLC bought a new stake in UFP Industries during the 4th quarter worth approximately $1,120,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
UFPI has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price objective on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. BMO Capital Markets raised UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target on the stock in a research note on Tuesday, May 5th. Benchmark reduced their price objective on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, DA Davidson decreased their price objective on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, UFP Industries currently has a consensus rating of “Hold” and an average target price of $105.40.
UFP Industries Trading Down 1.8%
NASDAQ UFPI opened at $89.15 on Thursday. UFP Industries, Inc. has a 12 month low of $77.89 and a 12 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. The stock has a 50 day moving average of $85.43 and a 200-day moving average of $94.06. The company has a market cap of $5.04 billion, a PE ratio of 19.47 and a beta of 1.22.
UFP Industries (NASDAQ:UFPI – Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.26). UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company earned $1.30 EPS. UFP Industries’s quarterly revenue was down 8.4% on a year-over-year basis. On average, equities research analysts anticipate that UFP Industries, Inc. will post 4.6 EPS for the current fiscal year.
UFP Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, June 1st. UFP Industries’s dividend 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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