Corient IA LLC Makes New $321,000 Investment in UFP Industries, Inc. $UFPI

Key Points

• Corient IA LLC made a new investment of $321,000 in UFP Industries, acquiring 3,000 shares during the first quarter.
• UFP Industries reported a missed earnings expectation for the last quarter, with earnings per share of $1.70 compared to estimates of $1.95, alongside a 3.5% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.35, which will be paid to investors of record, reflecting an annualized yield of 1.4%.

Corient IA LLC purchased a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 3,000 shares of the construction company's stock, valued at approximately $321,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UFPI. Putney Financial Group LLC bought a new stake in UFP Industries during the 4th quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of UFP Industries during the 1st quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd grew its position in shares of 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 worth $45,000 after purchasing an additional 119 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of UFP Industries during the 4th quarter worth approximately $61,000. Finally, UMB Bank n.a. lifted its holdings in shares of UFP Industries by 182.1% during the 1st quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock worth $61,000 after acquiring an additional 366 shares during the period. 81.81% of the stock is owned by institutional investors.

UFP Industries Trading Down 0.2%

Shares of UFPI stock traded down $0.17 during trading hours on Thursday, hitting $99.62. 221,399 shares of the company's stock traded hands, compared to its average volume of 433,314. UFP Industries, Inc. has a 12 month low of $93.00 and a 12 month 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 stock's 50 day simple moving average is $101.29 and its 200 day simple moving average is $103.93. The stock has a market cap of $5.83 billion, a PE ratio of 17.30 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted 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 company had revenue of $1.84 billion during 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 company's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 earnings per share. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current 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 given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. UFP Industries's dividend payout ratio (DPR) is presently 24.31%.

Analyst Upgrades and Downgrades

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

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.