AQR Capital Management LLC Decreases Position in UFP Industries, Inc. $UFPI

Key Points

• AQR Capital Management LLC has reduced its position in UFP Industries by 7.3%, now holding 398,906 shares valued at approximately $42.3 million.
• UFP Industries reported a drop in quarterly earnings, with an EPS of $1.70, missing analyst expectations of $1.95.
• The company has declared a quarterly dividend of $0.35, which translates to an annualized dividend yield of 1.3%.

AQR Capital Management LLC trimmed its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 7.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 398,906 shares of the construction company's stock after selling 31,340 shares during the quarter. AQR Capital Management LLC owned approximately 0.66% of UFP Industries worth $42,320,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in UFPI. BNP Paribas Financial Markets acquired a new position in UFP Industries in the fourth quarter valued at $1,710,000. Benjamin Edwards Inc. increased its stake in UFP Industries by 17.4% in the fourth quarter. Benjamin Edwards Inc. now owns 3,344 shares of the construction company's stock valued at $378,000 after purchasing an additional 495 shares during the last quarter. Baird Financial Group Inc. increased its stake in UFP Industries by 5.3% in the fourth quarter. Baird Financial Group Inc. now owns 4,265 shares of the construction company's stock valued at $480,000 after purchasing an additional 216 shares during the last quarter. Cetera Investment Advisers increased its stake in UFP Industries by 8.6% in the fourth quarter. Cetera Investment Advisers now owns 2,718 shares of the construction company's stock valued at $306,000 after purchasing an additional 215 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in UFP Industries in the fourth quarter valued at $1,959,000. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Trading Down 2.1%

NASDAQ:UFPI traded down $2.18 on Tuesday, hitting $100.42. 314,958 shares of the stock were exchanged, compared to its average volume of 300,515. The stock has a market cap of $5.88 billion, a PE ratio of 17.43 and a beta of 1.47. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $102.44 and a 200-day moving average of $102.67. UFP Industries, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly 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 firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.85 billion. UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The business's revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.05 earnings per share. As a group, equities analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

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

Wall Street Analyst Weigh In

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

UFP Industries 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.