K.J. Harrison & Partners Inc Makes New $1.09 Million Investment in UFP Industries, Inc. $UFPI

Key Points

• K.J. Harrison & Partners acquired a new position of 12,000 shares in UFP Industries (NASDAQ:UFPI) during Q4, valued at about $1.09 million, and institutional investors now own roughly 81.81% of the stock.
• UFP missed its recent quarter, reporting $0.89 EPS versus $1.15 expected and revenue of $1.46B (down 8.4% YoY); the shares trade around $83.86, with a market cap of $4.76B and a PE of 18.31.
• The company declared a quarterly dividend of $0.36 ($1.44 annualized, ~1.7% yield) payable June 15 (ex-dividend/record date June 1), while analyst coverage is mixed with a consensus "Hold" and an average target of $107.60.

K.J. Harrison & Partners Inc acquired a new position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,000 shares of the construction company's stock, valued at approximately $1,093,000.

A number of other institutional investors have also recently added to or reduced their stakes in UFPI. Royal Bank of Canada lifted its holdings in UFP Industries by 3.0% in the 1st quarter. Royal Bank of Canada now owns 61,641 shares of the construction company's stock worth $6,597,000 after buying an additional 1,798 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in UFP Industries by 8.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company's stock worth $317,000 after buying an additional 221 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of UFP Industries by 10.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company's stock valued at $13,831,000 after purchasing an additional 12,043 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of UFP Industries by 90.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company's stock valued at $54,000 after purchasing an additional 259 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of UFP Industries in the 2nd quarter valued at about $232,000. Institutional investors and hedge funds own 81.81% of the company's stock.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $83.86 on Friday. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a fifty-two week low of $80.06 and a fifty-two week high of $118.00. The firm has a 50-day simple moving average of $93.13 and a 200 day simple moving average of $96.17. The company has a market cap of $4.76 billion, a PE ratio of 18.31 and a beta of 1.29.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data 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). UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the company earned $1.30 EPS. UFP Industries's quarterly revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 4.8 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, June 1st. UFP Industries's dividend payout ratio is currently 31.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of UFP Industries in a research note on Tuesday, January 27th. DA Davidson cut 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 note on Friday, May 1st. Zacks Research lowered shares of UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 17th. BMO Capital Markets upgraded 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 note on Tuesday. Finally, Benchmark cut 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 note on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $107.60.

UFP Industries Company Profile

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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