Great Lakes Advisors LLC Takes Position in UFP Industries, Inc. $UFPI

Key Points

• Great Lakes Advisors LLC purchased 50,668 shares of UFP Industries worth approximately $4.6 million, giving it a 0.09% stake. Institutional investors collectively own 81.81% of the company.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $103.75, despite some firms lowering targets and retaining “Hold” ratings.
• UFP Industries exceeded quarterly expectations with earnings of $1.48 per share and revenue of $1.88 billion, while declaring a quarterly dividend of $0.36 per share, representing a 1.6% annualized yield.

Great Lakes Advisors LLC purchased a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 50,668 shares of the construction company's stock, valued at approximately $4,598,000. Great Lakes Advisors LLC owned 0.09% of UFP Industries at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its stake in UFP Industries by 3.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,197 shares of the construction company's stock valued at $291,000 after acquiring an additional 92 shares in the last quarter. Arkadios Wealth Advisors grew its position in UFP Industries by 2.1% during the fourth quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company's stock valued at $423,000 after purchasing an additional 97 shares in the last quarter. Geneos Wealth Management Inc. grew its position in UFP Industries by 54.8% during the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock valued at $32,000 after purchasing an additional 114 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in UFP Industries by 1.3% in the 4th quarter. SkyView Investment Advisors LLC now owns 9,133 shares of the construction company's stock valued at $832,000 after buying an additional 114 shares during the period. Finally, ProShare Advisors LLC increased its stake in UFP Industries by 1.1% in the 4th quarter. ProShare Advisors LLC now owns 12,972 shares of the construction company's stock valued at $1,181,000 after buying an additional 145 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on UFPI. Benchmark lowered their price target 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. BMO Capital Markets upgraded UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 price objective for the company in a report on Tuesday, May 5th. Weiss Ratings upgraded UFP Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, August 6th. Zacks Research raised UFP Industries from a "strong sell" rating to a "hold" rating in a research note on Friday, July 31st. Finally, Stifel Nicolaus cut their price objective on shares of UFP Industries from $100.00 to $87.00 and set a "hold" rating on the stock in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.75.

UFP Industries Trading Up 3.7%

Shares of UFPI stock opened at $90.42 on Thursday. UFP Industries, Inc. has a 12 month low of $77.89 and a 12 month high of $118.00. The company has a market cap of $4.99 billion, a PE ratio of 20.74 and a beta of 1.23. The company has a quick ratio of 2.64, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $87.97 and its two-hundred day moving average is $91.62.

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

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.6%. UFP Industries's payout ratio is currently 33.03%.

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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