First Trust Advisors LP Acquires 16,480 Shares of UFP Industries, Inc. $UFPI

Key Points

• First Trust Advisors increased its UFP Industries stake by 23.1% in the first quarter, adding 16,480 shares to own 87,696 shares worth approximately $8.1 million. Institutional investors collectively hold 81.81% of the company.
• UFP Industries reported quarterly EPS of $1.48, exceeding estimates of $1.37, while revenue reached $1.88 billion versus the $1.79 billion consensus forecast.
• The company declared a quarterly dividend of $0.36 per share, or $1.44 annually, representing a 1.7% yield. Analysts’ average rating is “Hold,” with an average price target of $103.75.

First Trust Advisors LP increased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 23.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,696 shares of the construction company's stock after acquiring an additional 16,480 shares during the period. First Trust Advisors LP owned about 0.16% of UFP Industries worth $8,079,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in UFPI. Vanguard Group Inc. raised its position in UFP Industries by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,117,218 shares of the construction company's stock worth $556,973,000 after purchasing an additional 17,016 shares in the last quarter. Wasatch Advisors LP boosted its holdings in UFP Industries by 32.9% during the first quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company's stock valued at $187,732,000 after purchasing an additional 504,609 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in UFP Industries by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,909,315 shares of the construction company's stock valued at $173,847,000 after purchasing an additional 44,736 shares in the last quarter. Boston Partners grew its stake in shares of UFP Industries by 2.2% in the 3rd quarter. Boston Partners now owns 1,887,460 shares of the construction company's stock valued at $176,449,000 after purchasing an additional 39,957 shares during the period. Finally, River Road Asset Management LLC raised its holdings in shares of UFP Industries by 64.1% in the 4th quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company's stock worth $80,118,000 after buying an additional 343,830 shares in the last quarter. Institutional investors own 81.81% of the company's stock.

UFP Industries Price Performance

Shares of UFPI stock opened at $86.74 on Friday. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 19.89 and a beta of 1.22. UFP Industries, Inc. has a 12 month low of $77.89 and a 12 month high of $118.00. The company has a quick ratio of 3.07, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $85.36 and a 200 day moving average price of $92.98.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.11. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.79 billion. Research analysts expect that UFP Industries, Inc. will post 4.56 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. UFP Industries's dividend payout ratio (DPR) is presently 33.03%.

Wall Street Analysts Forecast Growth

UFPI has been the topic of a number of analyst reports. Weiss Ratings cut UFP Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, June 2nd. Stifel Nicolaus reduced their target price on shares of UFP Industries from $100.00 to $87.00 and set a "hold" rating on the stock in a research note on Monday, May 11th. BMO Capital Markets raised shares of UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 target price on the stock in a report on Tuesday, May 5th. DA Davidson dropped their target price on shares of UFP Industries from $110.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Finally, Benchmark cut their price target on shares of UFP Industries from $125.00 to $115.00 and set a "buy" rating for the company in a report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $103.75.

UFP Industries Profile

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.