Harfst & Associates Inc. Has $1.21 Million Stake in UFP Industries, Inc. $UFPI

Key Points

• Harfst & Associates Inc. significantly decreased its stake in UFP Industries, Inc. by 52.4% in the first quarter, holding 11,276 shares after selling 12,401 shares.
• UFP Industries recently reported quarterly earnings of $1.70 per share, which missed analyst expectations by ($0.25) and represented a 3.5% decrease in revenue compared to the prior year.
• The company announced a quarterly dividend of $0.35 per share, with a yield of 1.3%, scheduled to be paid on September 15th to shareholders of record on September 1st.

Harfst & Associates Inc. decreased its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 52.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,276 shares of the construction company's stock after selling 12,401 shares during the quarter. Harfst & Associates Inc.'s holdings in UFP Industries were worth $1,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UFPI. Boston Partners lifted its stake in shares of UFP Industries by 118.6% in the 1st quarter. Boston Partners now owns 1,469,300 shares of the construction company's stock valued at $157,270,000 after purchasing an additional 797,069 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in UFP Industries by 39.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company's stock worth $174,241,000 after acquiring an additional 435,155 shares in the last quarter. Raymond James Financial Inc. acquired a new position in UFP Industries during the 4th quarter worth approximately $30,457,000. First Trust Advisors LP lifted its position in UFP Industries by 39.3% during the 4th quarter. First Trust Advisors LP now owns 791,886 shares of the construction company's stock worth $89,206,000 after acquiring an additional 223,522 shares in the last quarter. Finally, Nuveen LLC acquired a new position in UFP Industries during the 1st quarter worth approximately $18,224,000. Hedge funds and other institutional investors own 81.81% of the company's stock.

UFP Industries Price Performance

NASDAQ:UFPI traded up $1.7450 during mid-day trading on Tuesday, reaching $102.4550. 79,914 shares of the stock were exchanged, compared to its average volume of 433,780. 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, Inc. has a 1-year low of $93.00 and a 1-year high of $141.33. The firm has a market capitalization of $6.00 billion, a PE ratio of 17.81 and a beta of 1.43. The business has a fifty day moving average price of $101.21 and a 200 day moving average price of $103.97.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.25). UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the business earned $2.05 EPS. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. Research analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. UFP Industries's dividend payout ratio (DPR) is 24.31%.

Wall Street Analyst Weigh In

Separately, Loop Capital assumed coverage on UFP Industries in a research report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, UFP Industries has an average rating of "Moderate Buy" and an average target price 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.