Raymond James Financial Inc. Increases Position in UFP Industries, Inc. $UFPI

Key Points

• Raymond James Financial Inc. increased its holdings in UFP Industries, Inc. by 18.8%, purchasing an additional 50,762 shares, bringing its total ownership to 321,133 shares valued at approximately $34.37 million.
• UFP Industries reported a quarterly earnings per share (EPS) of $1.70, missing estimates by $0.25, along with a 3.5% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.35 per share, with a yield of 1.3%, to be paid on September 15th to investors of record as of September 1st.

Raymond James Financial Inc. increased its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 18.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 321,133 shares of the construction company's stock after buying an additional 50,762 shares during the period. Raymond James Financial Inc. owned 0.53% of UFP Industries worth $34,374,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Partners boosted its stake in UFP Industries by 118.6% during the 1st quarter. Boston Partners now owns 1,469,300 shares of the construction company's stock valued at $157,270,000 after purchasing an additional 797,069 shares during the last quarter. Nuveen LLC purchased a new position in shares of UFP Industries in the 1st quarter worth $18,224,000. GAMMA Investing LLC boosted its stake in shares of UFP Industries by 22,107.5% in the 1st 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. Allspring Global Investments Holdings LLC boosted its stake in shares of UFP Industries by 14.4% in the 1st 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. Finally, Northern Trust Corp boosted its stake in shares of UFP Industries by 9.7% in the 4th quarter. Northern Trust Corp now owns 1,111,147 shares of the construction company's stock worth $125,171,000 after buying an additional 98,533 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Zacks Research downgraded UFP Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 19th. Loop Capital assumed coverage on UFP Industries in a research report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $134.00.

UFP Industries Price Performance

Shares of UFPI stock traded down $1.10 during trading hours on Friday, hitting $100.97. The stock had a trading volume of 271,216 shares, compared to its average volume of 323,315. UFP Industries, Inc. has a one year low of $93.00 and a one 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's 50-day moving average price is $102.34 and its two-hundred day moving average price is $103.32. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 17.53 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The construction company reported $1.70 earnings per share 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 for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. The company's revenue was down 3.5% compared to the same quarter last year. Equities analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. UFP Industries's payout ratio 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.