Invesco Ltd. Increases Position in UFP Industries, Inc. $UFPI

Key Points

• Invesco Ltd. increased its stake in UFP Industries by 0.5%, now owning 655,041 shares valued at approximately $70.1 million.
• UFP Industries reported a miss on earnings with $1.70 EPS, below the consensus estimate of $1.95, and had a 3.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.35, resulting in an annualized dividend yield of 1.4% with a payout ratio of 24.31%.

Invesco Ltd. lifted its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 655,041 shares of the construction company's stock after acquiring an additional 3,430 shares during the quarter. Invesco Ltd. owned 1.08% of UFP Industries worth $70,116,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in UFPI. Putney Financial Group LLC purchased a new position in shares of UFP Industries during the fourth quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in UFP Industries in the 1st quarter valued at approximately $36,000. Kapitalo Investimentos Ltda acquired a new position in shares of UFP Industries in the 4th quarter worth approximately $61,000. UMB Bank n.a. boosted its stake in UFP Industries by 182.1% in the first quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock worth $61,000 after purchasing an additional 366 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of UFP Industries by 222.5% in the 1st quarter. Signaturefd LLC now owns 816 shares of the construction company's stock valued at $87,000 after buying an additional 563 shares during the period. Institutional investors and hedge funds own 81.81% of the company's stock.

UFP Industries Trading Up 1.9%

Shares of UFPI stock traded up $1.92 during mid-day trading on Tuesday, hitting $102.63. The company's stock had a trading volume of 220,514 shares, compared to its average volume of 434,699. The company's fifty day simple moving average is $101.21 and its 200-day simple moving average is $103.97. UFP Industries, Inc. has a 52 week low of $93.00 and a 52 week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. The company has a market cap of $6.01 billion, a PE ratio of 17.82 and a beta of 1.43.

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

UFP Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Loop Capital started coverage on UFP Industries in a report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 target price 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $134.00.

UFP Industries Company Profile

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.