170,252 Shares in UFP Industries, Inc. $UFPI Acquired by Nuveen LLC

Key Points

• Nuveen LLC acquired a new stake in UFP Industries, purchasing 170,252 shares valued at approximately $18.2 million, representing 0.28% of the company.
• UFP Industries reported Q2 earnings of $1.70 per share, missing the consensus estimate of $1.95, with revenues down by 3.5% year-over-year.
• The company announced a quarterly dividend of $0.35 per share, set to be paid on September 15, providing an annual yield of 1.4%.

Nuveen LLC bought a new stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 170,252 shares of the construction company's stock, valued at approximately $18,224,000. Nuveen LLC owned approximately 0.28% of UFP Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of UFPI. XTX Topco Ltd purchased a new position in UFP Industries in the fourth quarter valued at about $343,000. Forum Financial Management LP grew its stake in UFP Industries by 19.5% in the fourth quarter. Forum Financial Management LP now owns 2,857 shares of the construction company's stock valued at $322,000 after purchasing an additional 467 shares in the last quarter. MetLife Investment Management LLC grew its stake in UFP Industries by 7.5% in the fourth quarter. MetLife Investment Management LLC now owns 69,600 shares of the construction company's stock valued at $7,840,000 after purchasing an additional 4,881 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in UFP Industries in the fourth quarter valued at about $703,000. Finally, Hsbc Holdings PLC grew its stake in UFP Industries by 733.7% in the fourth quarter. Hsbc Holdings PLC now owns 25,604 shares of the construction company's stock valued at $2,887,000 after purchasing an additional 22,533 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on UFPI shares. Zacks Research cut UFP Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Loop Capital started coverage on UFP Industries in a research report on Wednesday, July 23rd. They issued a "hold" rating and a $112.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $134.00.

UFP Industries Stock Performance

Shares of NASDAQ UFPI traded up $7.46 during trading hours on Friday, hitting $107.08. 495,943 shares of the company's stock were exchanged, compared to its average volume of 341,609. UFP Industries, Inc. has a 1-year low of $93.00 and a 1-year high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 18.59 and a beta of 1.43. The company's 50-day moving average price is $101.56 and its 200-day moving average price is $103.76.

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

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, August 29th. UFP Industries's dividend payout ratio is currently 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.