Massachusetts Financial Services Co. MA Sells 11,269 Shares of UFP Industries, Inc. $UFPI

Key Points

• Massachusetts Financial Services Co. cut its stake in UFP Industries by 44.4%, selling 11,269 shares and retaining 14,097 shares worth about $1.284 million at the end of the quarter.
• UFP reported a quarterly miss—EPS $0.70 versus $1.03 expected—and revenue of $1.33 billion, down 9% year-over-year, while the stock trades with a market cap of $5.44 billion and a P/E of about 19.2.
• The company raised its quarterly dividend to $0.36 (annualized $1.44, ~1.5% yield); institutional ownership is high at 81.8% and analysts hold a consensus "Hold" with an average target of $106.67.

Massachusetts Financial Services Co. MA cut its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 44.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,097 shares of the construction company's stock after selling 11,269 shares during the period. Massachusetts Financial Services Co. MA's holdings in UFP Industries were worth $1,284,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in UFPI. Deprince Race & Zollo Inc. bought a new stake in UFP Industries in the third quarter worth $41,962,000. Millennium Management LLC increased its position in shares of UFP Industries by 209.9% in the third quarter. Millennium Management LLC now owns 425,336 shares of the construction company's stock valued at $39,765,000 after acquiring an additional 288,093 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of UFP Industries in the second quarter valued at about $20,151,000. Jane Street Group LLC increased its position in shares of UFP Industries by 121.9% in the second quarter. Jane Street Group LLC now owns 267,818 shares of the construction company's stock valued at $26,610,000 after acquiring an additional 147,100 shares during the period. Finally, UBS Group AG increased its position in shares of UFP Industries by 47.3% in the third quarter. UBS Group AG now owns 429,440 shares of the construction company's stock valued at $40,148,000 after acquiring an additional 137,968 shares during the period. 81.81% of the stock is owned by institutional investors.

UFP Industries Price Performance

Shares of NASDAQ UFPI opened at $95.76 on Friday. UFP Industries, Inc. has a 1 year low of $84.82 and a 1 year high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.59 and a quick ratio of 3.13. The company's 50-day moving average is $97.97 and its 200 day moving average is $96.05. The stock has a market capitalization of $5.44 billion, a P/E ratio of 19.19 and a beta of 1.44.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.33). UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. UFP Industries's quarterly revenue was down 9.0% compared to the same quarter last year. On average, sell-side analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.5%. This is a boost from UFP Industries's previous quarterly dividend of $0.35. The ex-dividend date was Monday, March 2nd. UFP Industries's dividend payout ratio is currently 28.86%.

Wall Street Analyst Weigh In

UFPI has been the topic of a number of analyst reports. DA Davidson decreased their price objective on shares of UFP Industries from $112.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of UFP Industries in a research report on Tuesday, January 27th. Finally, Zacks Research cut shares of UFP Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $106.67.

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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