KBC Group NV Has $2.75 Million Stock Position in UFP Industries, Inc. $UFPI

Key Points

• KBC Group NV sharply increased its UFP Industries stake in the first quarter, boosting holdings by 1,611.4% to 29,812 shares worth about $2.75 million.
• Wall Street sentiment is mixed, with analysts split between Buy, Hold, and Sell ratings; the consensus rating is Hold with an average price target of $103.75.
• UFP Industries missed earnings expectations in its latest quarterly report, posting $0.89 EPS versus $1.15 expected, while revenue also came in below forecasts and fell 8.4% year over year.

KBC Group NV increased its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 1,611.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,812 shares of the construction company's stock after acquiring an additional 28,070 shares during the period. KBC Group NV owned about 0.05% of UFP Industries worth $2,746,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. D.A. Davidson & CO. boosted its stake in UFP Industries by 49.4% during the 1st quarter. D.A. Davidson & CO. now owns 6,082 shares of the construction company's stock valued at $560,000 after purchasing an additional 2,010 shares during the last quarter. State of Michigan Retirement System raised its stake in shares of UFP Industries by 1.4% in the first quarter. State of Michigan Retirement System now owns 14,000 shares of the construction company's stock worth $1,290,000 after purchasing an additional 200 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of UFP Industries by 3.8% in the first quarter. Principal Financial Group Inc. now owns 131,045 shares of the construction company's stock worth $12,072,000 after purchasing an additional 4,806 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of UFP Industries by 1,459.9% in the first quarter. Fifth Third Bancorp now owns 60,136 shares of the construction company's stock valued at $5,540,000 after purchasing an additional 56,281 shares in the last quarter. Finally, IAG Wealth Partners LLC bought a new position in shares of UFP Industries in the first quarter valued at approximately $28,000. Institutional investors own 81.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. DA Davidson cut their target price on UFP Industries from $110.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Stifel Nicolaus lowered their price target on UFP Industries from $100.00 to $87.00 and set a "hold" rating for the company in a research report on Monday, May 11th. BMO Capital Markets upgraded UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 price objective on the stock in a research note on Tuesday, May 5th. Benchmark cut their price objective 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 lowered shares of UFP Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $103.75.

UFP Industries Price Performance

UFP Industries stock opened at $87.94 on Friday. UFP Industries, Inc. has a 52 week low of $77.89 and a 52 week high of $118.00. The company's 50 day moving average price is $84.59 and its two-hundred day moving average price is $93.28. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. The stock has a market cap of $4.97 billion, a P/E ratio of 19.20 and a beta of 1.22.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.26). The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.UFP Industries's quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 EPS. On average, equities analysts predict that UFP Industries, Inc. will post 4.57 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 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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