Russell Investments Group Ltd. Raises Position in UFP Industries, Inc. $UFPI

Key Points

• Russell Investments Group Ltd. increased its stake in UFP Industries by 45.0% during the first quarter, now holding nearly 100,000 shares valued at approximately $10.7 million.
• UFP Industries reported earnings per share (EPS) of $1.70 for the last quarter, missing analysts' expectations of $1.95 and showing a 3.5% decline in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.35 per share, representing an annualized yield of 1.4% with a payout ratio of 24.31%.

Russell Investments Group Ltd. increased its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 45.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,994 shares of the construction company's stock after acquiring an additional 31,014 shares during the period. Russell Investments Group Ltd. owned about 0.17% of UFP Industries worth $10,703,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted 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 purchasing an additional 435,155 shares during the period. Northern Trust Corp lifted its holdings in 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 period. Allspring Global Investments Holdings LLC grew its position 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. First Trust Advisors LP increased its stake in shares of UFP Industries by 39.3% during the fourth quarter. First Trust Advisors LP now owns 791,886 shares of the construction company's stock valued at $89,206,000 after buying an additional 223,522 shares during the period. Finally, Royce & Associates LP raised its holdings in shares of UFP Industries by 10.9% during the first quarter. Royce & Associates LP now owns 697,311 shares of the construction company's stock valued at $74,640,000 after acquiring an additional 68,742 shares in the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

UFP Industries stock opened at $100.71 on Tuesday. UFP Industries, Inc. has a fifty-two week low of $93.00 and a fifty-two week high of $141.33. The stock's 50 day simple moving average is $101.21 and its two-hundred day simple moving average is $103.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 17.48 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results on Monday, July 28th. The construction company reported $1.70 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.25). The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations 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 for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 EPS. As a group, analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. UFP Industries's dividend payout ratio is currently 24.31%.

Wall Street Analyst Weigh In

Separately, Loop Capital began coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They issued a "hold" rating and a $112.00 price target on the stock.

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.

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