Citigroup Inc. Buys 12,226 Shares of UFP Industries, Inc. $UFPI

Key Points

• Citigroup Inc. increased its stake in UFP Industries by 10.7%, owning 126,631 shares worth approximately $13.6 million by the end of the most recent quarter.
• UFP Industries reported earnings of $1.70 per share for the latest quarter, missing analyst estimates and showing a 3.5% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.35, providing an annual yield of 1.4%, with the payment scheduled for September 15th.

Citigroup Inc. raised its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 126,631 shares of the construction company's stock after acquiring an additional 12,226 shares during the period. Citigroup Inc. owned about 0.21% of UFP Industries worth $13,555,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UFPI. T. Rowe Price Investment Management Inc. grew its stake in UFP Industries by 39.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company's stock valued at $174,241,000 after acquiring an additional 435,155 shares during the period. Raymond James Financial Inc. acquired a new position in UFP Industries in the fourth quarter valued at about $30,457,000. First Trust Advisors LP grew its stake in UFP Industries by 39.3% in the fourth quarter. First Trust Advisors LP now owns 791,886 shares of the construction company's stock valued at $89,206,000 after acquiring an additional 223,522 shares during the period. GAMMA Investing LLC grew its stake in UFP Industries by 22,107.5% in the first quarter. GAMMA Investing LLC now owns 160,560 shares of the construction company's stock valued at $17,186,000 after acquiring an additional 159,837 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in UFP Industries by 14.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,051,613 shares of the construction company's stock valued at $112,112,000 after acquiring an additional 132,595 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Loop Capital started 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, UFP Industries currently has an average rating of "Moderate Buy" and an average price target of $134.00.

UFP Industries Stock Up 2.5%

Shares of UFP Industries stock traded up $2.5030 during trading on Tuesday, reaching $103.2130. The stock had a trading volume of 52,499 shares, compared to its average volume of 433,535. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 17.94 and a beta of 1.43. The stock has a fifty day moving average price of $101.21 and a two-hundred day moving average price of $103.97. UFP Industries, Inc. has a 52 week low of $93.00 and a 52 week high of $141.33. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.25). The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.85 billion. UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. The business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.05 earnings per share. Sell-side analysts predict that UFP Industries, Inc. will post 7.08 EPS 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. Investors of record on Monday, September 1st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 29th. UFP Industries's dividend payout ratio is presently 24.31%.

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.