AQR Capital Management LLC Sells 31,340 Shares of 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 reduced its position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 398,906 shares of the construction company's stock after selling 31,340 shares during the quarter. AQR Capital Management LLC owned about 0.66% of UFP Industries worth $42,320,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new position in shares of UFP Industries during the fourth quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in UFP Industries in the 1st quarter valued at $36,000. Caitong International Asset Management Co. Ltd increased its stake in UFP Industries by 39.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company's stock valued at $45,000 after purchasing an additional 119 shares in the last quarter. UMB Bank n.a. raised its holdings in UFP Industries by 182.1% during the first quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock worth $61,000 after buying an additional 366 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of UFP Industries by 222.5% in the first quarter. Signaturefd LLC now owns 816 shares of the construction company's stock valued at $87,000 after buying an additional 563 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on UFPI. Zacks Research cut shares of UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. Loop Capital assumed coverage on shares of UFP Industries in a research report on Wednesday, July 23rd. They issued a "hold" rating and a $112.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, UFP Industries has a consensus rating of "Hold" and an average price target of $134.00.

UFP Industries Stock Down 3.6%

Shares of NASDAQ UFPI traded down $3.72 during trading on Friday, hitting $98.68. The stock had a trading volume of 231,609 shares, compared to its average volume of 305,555. The firm has a fifty day moving average of $102.09 and a two-hundred day moving average of $102.54. The company has a market capitalization of $5.78 billion, a PE ratio of 17.13 and a beta of 1.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. 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 released its quarterly earnings results 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). UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The firm had revenue of $1.84 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter last year, the firm posted $2.05 earnings per share. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be issued 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 currently 24.31%.

About UFP Industries

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.