KBC Group NV Raises Stake in UFP Industries, Inc. $UFPI

KBC Group NV boosted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPIFree Report) by 1,611.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 29,812 shares of the construction company’s stock after purchasing an additional 28,070 shares during the period. KBC Group NV’s holdings in UFP Industries were worth $2,746,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of UFP Industries by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,247,346 shares of the construction company’s stock worth $114,980,000 after purchasing an additional 23,905 shares during the last quarter. SG Americas Securities LLC lifted its stake in UFP Industries by 454.4% in the fourth 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 during the last quarter. Flagship Capital Management Inc. purchased a new position in UFP Industries in the fourth quarter valued at approximately $1,550,000. Horizon Investments LLC purchased a new position in UFP Industries in the fourth quarter valued at approximately $1,120,000. Finally, K.J. Harrison & Partners Inc bought a new position in UFP Industries during the fourth quarter valued at $1,093,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Up 2.0%

UFPI opened at $87.94 on Friday. The company has a 50 day moving average of $84.59 and a 200 day moving average of $93.28. The company has a market cap of $4.97 billion, a PE ratio of 19.20 and a beta of 1.22. 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.

UFP Industries (NASDAQ:UFPIGet Free Report) last released its quarterly earnings data 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). 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 analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts expect that UFP Industries, Inc. will post 4.57 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 1st. UFP Industries’s dividend payout ratio (DPR) is presently 31.44%.

Wall Street Analysts Forecast Growth

UFPI has been the subject of a number of recent research reports. Stifel Nicolaus decreased their target price 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. DA Davidson dropped their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Benchmark cut their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Weiss Ratings lowered UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective on the stock in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $103.75.

Get Our Latest Report on UFP Industries

About UFP Industries

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for UFP Industries (NASDAQ:UFPI)

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