Narwhal Capital Management Buys New Stake in UFP Industries, Inc. (NASDAQ:UFPI)

Narwhal Capital Management bought a new position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 39,434 shares of the construction company's stock, valued at approximately $4,221,000. Narwhal Capital Management owned about 0.06% of UFP Industries at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Putney Financial Group LLC purchased a new stake in shares of UFP Industries in the fourth quarter valued at about $30,000. Smartleaf Asset Management LLC grew its position in UFP Industries by 1,683.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 535 shares of the construction company's stock worth $60,000 after purchasing an additional 505 shares in the last quarter. Jones Financial Companies Lllp increased its stake in UFP Industries by 357.8% in the 4th quarter. Jones Financial Companies Lllp now owns 531 shares of the construction company's stock valued at $60,000 after buying an additional 415 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in UFP Industries in the 4th quarter valued at about $61,000. Finally, UMB Bank n.a. lifted its position in shares of UFP Industries by 182.1% during the 1st quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock worth $61,000 after buying an additional 366 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

UFP Industries Stock Down 0.1%

Shares of UFPI traded down $0.10 during midday trading on Friday, reaching $99.78. 1,985,618 shares of the stock were exchanged, compared to its average volume of 368,788. The company has a market capitalization of $6.03 billion, a P/E ratio of 16.33 and a beta of 1.49. The company has a current ratio of 4.96, a quick ratio of 3.44 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 52 week low of $93.00 and a 52 week high of $141.33. The company's 50 day moving average is $99.61 and its two-hundred day moving average is $107.67.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The construction company reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.27). UFP Industries had a return on equity of 11.78% and a net margin of 5.64%. The business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period in the previous year, the company posted $1.96 EPS. UFP Industries's revenue for the quarter was down 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.40 annualized dividend and a yield of 1.40%. UFP Industries's dividend payout ratio (DPR) is presently 22.91%.

UFP Industries 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.