Deprince Race & Zollo Inc. Increases Holdings in UFP Industries, Inc. $UFPI

Deprince Race & Zollo Inc. grew its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 27.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 579,797 shares of the construction company’s stock after acquiring an additional 123,500 shares during the quarter. UFP Industries accounts for 1.0% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 28th biggest holding. Deprince Race & Zollo Inc.’s holdings in UFP Industries were worth $53,411,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of UFP Industries during the fourth quarter valued at $75,183,000. Wasatch Advisors LP boosted its stake in UFP Industries by 32.9% in the 1st quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock worth $187,732,000 after purchasing an additional 504,609 shares in the last quarter. River Road Asset Management LLC boosted its stake 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 purchasing an additional 343,830 shares in the last quarter. Millennium Management LLC grew its position in UFP Industries by 209.9% during the 3rd quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock valued at $39,765,000 after purchasing an additional 288,093 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in UFP Industries by 2,178.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 213,320 shares of the construction company’s stock valued at $19,423,000 after purchasing an additional 203,957 shares in the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

UFP Industries Stock Performance

Shares of UFPI stock opened at $89.15 on Thursday. The company has a 50 day moving average price of $85.43 and a 200-day moving average price of $94.06. UFP Industries, Inc. has a 52 week low of $77.89 and a 52 week high of $118.00. The firm has a market capitalization of $5.04 billion, a PE ratio of 19.47 and a beta of 1.22. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued 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 company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the company earned $1.30 EPS. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities research analysts expect that UFP Industries, Inc. will post 4.6 earnings per share for the current year.

UFP Industries Dividend Announcement

The business 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. The ex-dividend date was Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.6%. UFP Industries’s payout ratio is currently 31.44%.

UFP Industries 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.