Ameriprise Financial Inc. Grows Holdings in UFP Industries, Inc. $UFPI

Key Points

• Ameriprise Financial Inc. has increased its stake in UFP Industries, acquiring additional shares in the first quarter, and now holds a position valued at approximately $45.3 million.
• UFP Industries reported a quarterly EPS of $1.70, missing estimates, with revenue down 3.5% compared to the previous year.
• The company declared a quarterly dividend of $0.35 per share, with a dividend yield of 1.4% and a payout ratio of 24.31%.

Ameriprise Financial Inc. grew its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 1.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 423,239 shares of the construction company's stock after acquiring an additional 5,479 shares during the period. Ameriprise Financial Inc. owned about 0.70% of UFP Industries worth $45,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Aptus Capital Advisors LLC lifted its holdings in UFP Industries by 12.6% in the first quarter. Aptus Capital Advisors LLC now owns 81,774 shares of the construction company's stock valued at $8,753,000 after buying an additional 9,132 shares during the period. Northern Trust Corp lifted its holdings in UFP Industries by 1.6% in the first quarter. Northern Trust Corp now owns 1,129,244 shares of the construction company's stock valued at $120,874,000 after buying an additional 18,097 shares during the period. Corient IA LLC acquired a new position in UFP Industries in the first quarter valued at $321,000. Northwest & Ethical Investments L.P. lifted its holdings in UFP Industries by 228.3% in the first quarter. Northwest & Ethical Investments L.P. now owns 9,438 shares of the construction company's stock valued at $1,009,000 after buying an additional 6,563 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in UFP Industries by 18.8% in the first quarter. Raymond James Financial Inc. now owns 321,133 shares of the construction company's stock valued at $34,374,000 after buying an additional 50,762 shares during the period. Institutional investors and hedge funds own 81.81% of the company's stock.

Analyst Upgrades and Downgrades

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

UFP Industries Stock Down 1.1%

Shares of NASDAQ:UFPI traded down $1.10 during midday trading on Monday, hitting $100.97. 271,216 shares of the company's stock were exchanged, compared to its average volume of 318,288. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The stock has a 50 day moving average price of $102.34 and a 200-day moving average price of $103.17. The company has a market cap of $5.91 billion, a PE ratio of 17.53 and a beta of 1.47. UFP Industries, Inc. has a 12 month low of $93.00 and a 12 month high of $141.33.

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

UFP Industries Dividend Announcement

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

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.