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

Wasatch Advisors LP increased its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 32.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,037,908 shares of the construction company’s stock after purchasing an additional 504,609 shares during the quarter. UFP Industries comprises about 1.2% of Wasatch Advisors LP’s holdings, making the stock its 28th largest position. Wasatch Advisors LP’s holdings in UFP Industries were worth $187,732,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its stake in UFP Industries by 54.8% during the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after acquiring an additional 114 shares during the last quarter. Signaturefd LLC lifted its stake in shares of UFP Industries by 66.1% in the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock valued at $35,000 after purchasing an additional 154 shares during the last quarter. Danske Bank A S lifted its stake in shares of UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of UFP Industries by 84.8% during the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock worth $38,000 after purchasing an additional 190 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of UFP Industries by 117.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock worth $38,000 after purchasing an additional 223 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UFPI. Benchmark reduced their price objective on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Stifel Nicolaus dropped their price target on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Weiss Ratings lowered shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research report on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.40.

UFP Industries Stock Up 0.1%

UFP Industries stock opened at $92.20 on Friday. UFP Industries, Inc. has a twelve month low of $77.89 and a twelve month high of $118.00. The stock’s fifty day simple moving average is $85.70 and its 200-day simple moving average is $94.03. 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 firm has a market capitalization of $5.21 billion, a P/E ratio of 20.13 and a beta of 1.24.

UFP Industries (NASDAQ:UFPI) last released its 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 net margin of 4.31% and a return on equity of 8.50%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter last year, the business posted $1.30 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts expect that UFP Industries, Inc. will post 4.6 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.36 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.6%. UFP Industries’s dividend payout ratio (DPR) is currently 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.