Kennedy Capital Management LLC Increases Position in UFP Industries, Inc. $UFPI

Key Points

• Kennedy Capital Management increased its stake in UFP Industries by 11.8% in the fourth quarter, buying 28,958 additional shares and bringing its total holding to 273,818 shares worth about $24.9 million.
• Recent analyst sentiment has been mixed: several firms cut price targets, while BMO upgraded the stock to outperform; overall, the consensus rating remains Hold with a target price of $105.40.
• UFP Industries reported quarterly earnings of $0.89 per share, missing estimates, and revenue fell 8.4% year over year; the company also announced a quarterly dividend of $0.36 per share payable June 15.

Kennedy Capital Management LLC raised its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 273,818 shares of the construction company's stock after purchasing an additional 28,958 shares during the period. UFP Industries accounts for 0.5% of Kennedy Capital Management LLC's investment portfolio, making the stock its 29th largest holding. Kennedy Capital Management LLC owned approximately 0.47% of UFP Industries worth $24,931,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its position in shares of UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock valued at $32,000 after buying an additional 114 shares during the last quarter. Signaturefd LLC grew its position in shares of UFP Industries by 66.1% in the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company's stock valued at $35,000 after buying an additional 154 shares during the last quarter. Danske Bank A S grew its position in shares of UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company's stock valued at $36,000 after buying an additional 300 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of UFP Industries by 117.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company's stock valued at $38,000 after buying an additional 223 shares during the last quarter. Finally, IFP Advisors Inc grew its position in shares of UFP Industries by 84.8% in the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company's stock valued at $38,000 after buying an additional 190 shares during the last quarter. 81.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UFPI has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their target price 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. 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 research report on Tuesday, May 5th. DA Davidson dropped their target price on shares of UFP Industries from $110.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Benchmark dropped their target price on shares of UFP Industries from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Finally, Weiss Ratings downgraded shares of UFP Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $105.40.

UFP Industries Stock Up 0.1%

Shares of NASDAQ:UFPI opened at $84.56 on Friday. The stock has a market cap of $4.78 billion, a P/E ratio of 18.46 and a beta of 1.24. The firm has a fifty day moving average price of $86.94 and a 200 day moving average price of $94.39. 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 issued its quarterly 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 for the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The firm's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Sell-side analysts predict that UFP Industries, Inc. will post 4.6 EPS for the current year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.7%. The ex-dividend date 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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