Scientech Research LLC Invests $586,000 in UFP Industries, Inc. $UFPI

Key Points

• Scientech Research LLC has acquired a new position in UFP Industries, Inc. (NASDAQ: UFPI) by purchasing 5,473 shares valued at approximately $586,000 in the first quarter.
• UFP Industries reported a quarterly loss with earnings of $1.70 per share, falling short of analysts' expectations, along with a 3.5% decline in revenue compared to the previous year.
• The company recently declared a quarterly dividend of $0.35 per share, with an annualized yield of 1.4% and a payout ratio of 24.31%.

Scientech Research LLC purchased a new position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,473 shares of the construction company's stock, valued at approximately $586,000.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of UFP Industries by 107.5% in the 1st quarter. GAMMA Investing LLC now owns 1,500 shares of the construction company's stock worth $161,000 after purchasing an additional 777 shares in the last quarter. KBC Group NV boosted its position in shares of UFP Industries by 15.8% in the 1st quarter. KBC Group NV now owns 2,836 shares of the construction company's stock worth $304,000 after purchasing an additional 386 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of UFP Industries in the 1st quarter worth approximately $1,534,000. Park Avenue Securities LLC lifted its position in UFP Industries by 6.5% in the 1st quarter. Park Avenue Securities LLC now owns 2,221 shares of the construction company's stock valued at $238,000 after acquiring an additional 136 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in UFP Industries by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 7,115 shares of the construction company's stock valued at $761,000 after purchasing an additional 190 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

UFP Industries Stock Performance

UFPI traded down $3.72 during mid-day trading on Friday, reaching $98.68. 231,609 shares of the company traded hands, compared to its average volume of 298,922. The stock has a market capitalization of $5.78 billion, a P/E ratio of 17.13 and a beta of 1.47. The company has a quick ratio of 3.16, a current ratio of 4.54 and a debt-to-equity ratio of 0.07. The company's fifty day moving average price is $102.09 and its 200-day moving average price is $102.47. UFP Industries, Inc. has a 52-week low of $93.00 and a 52-week high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.25). The company had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.85 billion. UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. UFP Industries's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. On average, sell-side analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. UFP Industries's dividend payout ratio is 24.31%.

Wall Street Analyst Weigh In

Several analysts have commented on UFPI shares. Loop Capital started coverage on UFP Industries in a research note on Wednesday, July 23rd. They set a "hold" rating and a $112.00 target price on the stock. Zacks Research downgraded UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, UFP Industries has an average rating of "Hold" and an average price target of $134.00.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.