Ameriprise Financial Inc. Has $45.30 Million Position 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 stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 423,239 shares of the construction company's stock after buying an additional 5,479 shares during the quarter. Ameriprise Financial Inc. owned about 0.70% of UFP Industries worth $45,303,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp raised its holdings in UFP Industries by 9.7% during the fourth quarter. Northern Trust Corp now owns 1,111,147 shares of the construction company's stock worth $125,171,000 after purchasing an additional 98,533 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of UFP Industries in the 4th quarter worth $61,000. Aptus Capital Advisors LLC raised its stake in shares of UFP Industries by 23.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 72,642 shares of the construction company's stock worth $8,183,000 after buying an additional 13,983 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in UFP Industries in the fourth quarter worth about $1,710,000. Finally, Benjamin Edwards Inc. raised its position in UFP Industries by 17.4% in the fourth quarter. Benjamin Edwards Inc. now owns 3,344 shares of the construction company's stock worth $378,000 after acquiring an additional 495 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Stock Down 1.7%

Shares of UFPI traded down $1.75 during trading hours on Wednesday, reaching $98.42. The company's stock had a trading volume of 386,702 shares, compared to its average volume of 304,782. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 17.09 and a beta of 1.47. UFP Industries, Inc. has a 1-year low of $93.00 and a 1-year high of $141.33. 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 has a 50 day moving average of $102.34 and a two-hundred day moving average of $103.01.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.25). The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 EPS. As a group, research analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. UFP Industries's dividend payout ratio is 24.31%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on UFPI shares. Zacks Research downgraded shares of UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. Loop Capital began coverage on UFP Industries in a report on Wednesday, July 23rd. They issued a "hold" rating and a $112.00 price target on the stock. Two 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. Based on data from MarketBeat.com, UFP Industries currently has a consensus 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.