Northwest & Ethical Investments L.P. Acquires 6,563 Shares of UFP Industries, Inc. $UFPI

Key Points

• Northwest & Ethical Investments L.P. increased its stake in UFP Industries by 228.3%, owning a total of 9,438 shares valued at approximately $1,009,000.
• Other institutional investors, like Boston Partners and GAMMA Investing LLC, also significantly boosted their holdings in UFP Industries, indicating strong interest among hedge funds.
• UFP Industries recently reported an earnings per share of $1.70, falling short of the consensus estimate of $1.95, and also announced a quarterly dividend of $0.35 scheduled for September 15th.

Northwest & Ethical Investments L.P. grew its position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 228.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,438 shares of the construction company's stock after buying an additional 6,563 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in UFP Industries were worth $1,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Boston Partners lifted its holdings in shares of UFP Industries by 118.6% during the first quarter. Boston Partners now owns 1,469,300 shares of the construction company's stock worth $157,270,000 after buying an additional 797,069 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of UFP Industries by 39.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company's stock worth $174,241,000 after buying an additional 435,155 shares during the last quarter. Nuveen LLC acquired a new position in shares of UFP Industries during the first quarter worth approximately $18,224,000. GAMMA Investing LLC lifted its holdings in shares of UFP Industries by 22,107.5% during the first quarter. GAMMA Investing LLC now owns 160,560 shares of the construction company's stock worth $17,186,000 after buying an additional 159,837 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of UFP Industries by 14.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,051,613 shares of the construction company's stock worth $112,112,000 after buying an additional 132,595 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UFPI has been the subject of a number of research analyst reports. Zacks Research lowered UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday. Loop Capital assumed coverage on UFP Industries in a research report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, UFP Industries presently has a consensus rating of "Hold" and an average price target of $134.00.

UFP Industries Trading Up 7.5%

NASDAQ:UFPI traded up $7.46 during mid-day trading on Friday, hitting $107.08. The company had a trading volume of 495,943 shares, compared to its average volume of 341,609. UFP Industries, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $141.33. The business's fifty day moving average is $101.56 and its two-hundred day moving average is $103.76. The firm has a market cap of $6.27 billion, a P/E ratio of 18.59 and a beta of 1.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.25). The business had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.85 billion. UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The firm's revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. As a group, research analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. UFP Industries's dividend payout ratio (DPR) is presently 24.31%.

UFP Industries Company 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.