Narwhal Capital Management Raises Position in UFP Industries, Inc. $UFPI

Key Points

• Narwhal Capital Management has increased its position in UFP Industries, Inc. by 37.7%, owning 54,319 shares valued at approximately $5.4 million as of its latest SEC filing.
• Multiple other institutional investors have also boosted their holdings in UFP Industries, with GAMMA Investing LLC increasing its stake by 107.5% in the first quarter.
• UFP Industries recently declared a $0.35 quarterly dividend, which gives an annualized yield of 1.5% based on current share prices.

Narwhal Capital Management increased its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 37.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,319 shares of the construction company's stock after buying an additional 14,885 shares during the period. Narwhal Capital Management owned 0.09% of UFP Industries worth $5,397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in UFPI. GAMMA Investing LLC raised its position in UFP Industries by 107.5% during the first quarter. GAMMA Investing LLC now owns 1,500 shares of the construction company's stock valued at $161,000 after purchasing an additional 777 shares in the last quarter. KBC Group NV lifted its stake in UFP Industries by 15.8% during the first quarter. KBC Group NV now owns 2,836 shares of the construction company's stock worth $304,000 after purchasing an additional 386 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in UFP Industries during the first quarter worth about $1,534,000. Park Avenue Securities LLC lifted its stake in UFP Industries by 6.5% during the first quarter. Park Avenue Securities LLC now owns 2,221 shares of the construction company's stock worth $238,000 after purchasing an additional 136 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in UFP Industries by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 7,115 shares of the construction company's stock worth $761,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company's stock.

Analyst Ratings Changes

UFPI has been the subject of several research analyst reports. Zacks Research lowered UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. Stifel Nicolaus set a $95.00 price target on UFP Industries in a research note on Wednesday. Loop Capital initiated coverage on UFP Industries in a research note on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price target for the company. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of UFP Industries in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $124.25.

UFP Industries Stock Up 1.0%

UFPI opened at $91.35 on Thursday. The company has a market cap of $5.35 billion, a P/E ratio of 15.86 and a beta of 1.45. The business's 50-day moving average price is $98.63 and its 200-day moving average price is $100.95. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12 month low of $90.00 and a 12 month high of $141.33.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.25). UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The company had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. The firm's quarterly revenue was down 3.5% on a year-over-year basis. On average, equities analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, August 29th. UFP Industries's payout ratio is currently 24.31%.

About UFP Industries

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.

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