UFP Industries, Inc. $UFPI Position Boosted by M&T Bank Corp

Key Points

• M&T Bank Corp boosted its stake by 1,442.9%, buying an additional 42,668 shares to hold 45,625 shares (about $4.15M); overall institutional and hedge fund ownership stands at 81.81%.
• UFP missed quarterly expectations, reporting $0.70 EPS vs. $1.03 expected and $1.33B revenue (down 9% YoY vs. $1.40B est.), and analysts maintain a consensus "Hold" rating with an average target of $107 after recent downgrades and price-target cuts.
• The company declared a quarterly dividend of $0.36 ($1.44 annual, ~1.5% yield, ex-dividend June 1), while the stock trades near $94.90 with a market cap of $5.39B and a P/E of 19.02.

M&T Bank Corp increased its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 1,442.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,625 shares of the construction company's stock after purchasing an additional 42,668 shares during the quarter. M&T Bank Corp owned 0.08% of UFP Industries worth $4,154,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its position in UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock worth $32,000 after buying an additional 114 shares during the last quarter. Signaturefd LLC increased its holdings in shares of UFP Industries by 66.1% in the fourth quarter. Signaturefd LLC now owns 387 shares of the construction company's stock valued at $35,000 after buying an additional 154 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of UFP Industries by 648.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company's stock valued at $41,000 after acquiring an additional 376 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of UFP Industries during the 4th quarter valued at $43,000. Finally, Winnow Wealth LLC bought a new stake in shares of UFP Industries during the 3rd quarter worth $51,000. 81.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on UFPI. Zacks Research cut UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 17th. DA Davidson reduced their target price on UFP Industries from $112.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday, March 10th. BMO Capital Markets reiterated a "market perform" rating and issued a $108.00 price target (down from $112.00) on shares of UFP Industries in a research report on Monday, April 20th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of UFP Industries in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $107.00.

UFP Industries Stock Performance

UFP Industries stock opened at $94.90 on Monday. UFP Industries, Inc. has a 52 week low of $84.82 and a 52 week high of $118.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.13 and a current ratio of 4.59. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 19.02 and a beta of 1.44. The company has a 50 day moving average price of $96.10 and a 200 day moving average price of $96.24.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.33). The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.40 billion. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. UFP Industries's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period last year, the firm earned $1.12 earnings per share. Research analysts forecast that UFP Industries, Inc. will post 5.19 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.5%. UFP Industries's payout ratio is currently 28.86%.

UFP Industries Profile

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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