Geode Capital Management LLC Sells 22,468 Shares of UFP Industries, Inc. $UFPI

Key Points

• Geode Capital Management reduced its UFP Industries stake by 1.5% in the fourth quarter, selling 22,468 shares and ending with 1,525,383 shares worth about $138.9 million.
• Analyst sentiment is mixed, with recent rating changes including downgrades from Zacks Research and Weiss Ratings, while BMO Capital Markets upgraded the stock to outperform. The consensus rating currently sits at Hold with an average price target of $105.40.
• UFP Industries missed quarterly expectations, reporting EPS of $0.89 versus the $1.15 estimate and revenue of $1.46 billion versus the expected $1.51 billion. The company also announced a quarterly dividend of $0.36 per share, yielding about 1.8% annually.

Geode Capital Management LLC cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,525,383 shares of the construction company's stock after selling 22,468 shares during the quarter. Geode Capital Management LLC owned 2.62% of UFP Industries worth $138,907,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in UFPI. Geneos Wealth Management Inc. increased its holdings in shares of UFP Industries by 54.8% during the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock worth $32,000 after purchasing an additional 114 shares during the period. Signaturefd LLC increased its holdings in shares of UFP Industries by 66.1% during the fourth quarter. Signaturefd LLC now owns 387 shares of the construction company's stock worth $35,000 after purchasing an additional 154 shares during the period. Danske Bank A S increased its holdings in shares of UFP Industries by 300.0% during the fourth quarter. Danske Bank A S now owns 400 shares of the construction company's stock worth $36,000 after purchasing an additional 300 shares during the period. IFP Advisors Inc increased its holdings in shares of UFP Industries by 84.8% during the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company's stock worth $38,000 after purchasing an additional 190 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of UFP Industries by 648.3% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company's stock worth $41,000 after purchasing an additional 376 shares during the period. 81.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on UFPI. Zacks Research cut shares of UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 17th. Stifel Nicolaus lowered their target price on shares of UFP Industries from $100.00 to $87.00 and set a "hold" rating on the stock in a report 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. Benchmark lowered their target price on shares of UFP Industries from $125.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Finally, Weiss Ratings cut shares of UFP Industries from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $105.40.

UFP Industries Stock Performance

Shares of NASDAQ:UFPI opened at $80.22 on Friday. The company's 50 day simple moving average is $87.94 and its 200 day simple moving average is $94.70. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 17.52 and a beta of 1.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. UFP Industries, Inc. has a 1 year low of $77.89 and a 1 year high of $118.00.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.15 by ($0.26). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.51 billion. UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The business's revenue was down 8.4% compared to the same quarter last year. During the same period last year, the business earned $1.30 earnings per share. As a group, research analysts predict that UFP Industries, Inc. will post 4.6 EPS for the current fiscal year.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. UFP Industries's dividend payout ratio (DPR) is 31.44%.

About UFP Industries

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.

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