Prescott Group Capital Management L.L.C. Invests $1.46 Million in UFP Industries, Inc. $UFPI

Key Points

• Prescott Group Capital Management disclosed a new stake in UFP Industries, buying 16,000 shares valued at about $1.46 million in the fourth quarter.
• Institutional ownership remains high, with several other funds also adding to positions; overall, institutions now own 81.81% of UFP Industries’ stock.
• Analyst sentiment is mixed: BMO Capital Markets upgraded the stock to outperform, while the broader consensus remains Hold with an average price target of $105.40.

Prescott Group Capital Management L.L.C. purchased a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,000 shares of the construction company's stock, valued at approximately $1,457,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada boosted its position in UFP Industries by 3.0% during the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company's stock valued at $6,597,000 after purchasing an additional 1,798 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in UFP Industries by 8.1% during the first quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company's stock valued at $317,000 after purchasing an additional 221 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in UFP Industries by 10.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company's stock valued at $13,831,000 after purchasing an additional 12,043 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in UFP Industries by 90.9% during the second quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company's stock valued at $54,000 after purchasing an additional 259 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in UFP Industries during the second quarter valued at about $232,000. Institutional investors own 81.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UFPI. BMO Capital Markets raised UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 price objective on the stock in a research report on Tuesday, May 5th. Stifel Nicolaus dropped their price objective on UFP Industries from $100.00 to $87.00 and set a "hold" rating on the stock in a research report on Monday, May 11th. DA Davidson dropped their price objective on UFP Industries from $110.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Benchmark dropped their price objective on UFP Industries from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of UFP Industries in a research report on Tuesday, January 27th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, UFP Industries presently has an average rating of "Hold" and an average price target of $105.40.

UFP Industries Trading Up 1.0%

UFP Industries stock opened at $79.99 on Thursday. The stock has a 50-day moving average of $89.91 and a two-hundred day moving average of $95.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.07 and a current ratio of 4.64. UFP Industries, Inc. has a one year low of $78.12 and a one year high of $118.00. The stock has a market cap of $4.52 billion, a PE ratio of 17.47 and a beta of 1.29.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.26). UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.51 billion. During the same quarter last year, the business posted $1.30 earnings per share. The company's quarterly revenue was down 8.4% compared to the same quarter last year. On average, research analysts anticipate that UFP Industries, Inc. will post 4.77 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. UFP Industries's dividend payout ratio (DPR) is presently 31.44%.

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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