UFP Industries, Inc. (NASDAQ:UFPI) Shares Bought by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management increased its stake in UFP Industries by 12.6% in the first quarter, acquiring 17,700 additional shares, bringing its total holdings to approximately $16.9 million.
• UFP Industries reported a decrease in revenue of 3.5% year-over-year, with an earnings per share (EPS) of $1.70, missing analyst expectations of $1.95.
• The company declared a quarterly dividend of $0.35, scheduled for payment on September 15, equating to an annual yield of 1.34%.

Picton Mahoney Asset Management increased its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 157,861 shares of the construction company's stock after buying an additional 17,700 shares during the quarter. Picton Mahoney Asset Management owned about 0.26% of UFP Industries worth $16,899,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of UFPI. FMR LLC lifted its holdings in UFP Industries by 7.1% in the 4th quarter. FMR LLC now owns 1,751,264 shares of the construction company's stock valued at $197,280,000 after acquiring an additional 115,687 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of UFP Industries by 39.1% in the 4th 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 in the last quarter. Franklin Resources Inc. lifted its stake in UFP Industries by 5.0% during the fourth quarter. Franklin Resources Inc. now owns 1,287,833 shares of the construction company's stock valued at $145,074,000 after purchasing an additional 61,861 shares during the last quarter. Northern Trust Corp boosted its holdings in UFP Industries by 9.7% during the fourth 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in UFP Industries by 14.4% in 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. Institutional investors own 81.81% of the company's stock.

UFP Industries Stock Down 0.5%

UFPI stock opened at $104.27 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.96 and a quick ratio of 3.44. The firm has a market capitalization of $6.30 billion, a P/E ratio of 17.07 and a beta of 1.47. UFP Industries, Inc. has a 52-week low of $93.00 and a 52-week high of $141.33. The company's 50 day simple moving average is $100.41 and its 200-day simple moving average is $105.69.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its 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 firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.85 billion. UFP Industries had a net margin of 5.64% and a return on equity of 11.78%. UFP Industries's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $2.05 earnings per share. As a group, equities research analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.34%. UFP Industries's dividend payout ratio is currently 22.91%.

Analyst Ratings Changes

Separately, Loop Capital assumed coverage on UFP Industries in a research note on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $136.80.

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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