UFP Industries, Inc. $UFPI Shares Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in UFP Industries, acquiring an additional 23,152 shares, bringing its total to 249,261 shares valued at approximately $24.77 million.
• Despite a recent increase in investment stakes from various hedge funds, analysts have downgraded UFP Industries, with Zacks Research changing its rating from "hold" to "strong sell."
• UFP Industries reported disappointing quarterly earnings, with a net margin of 5.31% and revenue of $1.84 billion, falling short of analyst expectations, contributing to a year-over-year revenue decline of 3.5%.

Allianz Asset Management GmbH boosted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 10.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 249,261 shares of the construction company's stock after acquiring an additional 23,152 shares during the quarter. Allianz Asset Management GmbH owned about 0.41% of UFP Industries worth $24,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State of Wyoming lifted its position in UFP Industries by 8.4% during the 1st quarter. State of Wyoming now owns 1,294 shares of the construction company's stock worth $139,000 after acquiring an additional 100 shares during the period. Great Lakes Advisors LLC lifted its position in UFP Industries by 0.5% during the 1st quarter. Great Lakes Advisors LLC now owns 21,105 shares of the construction company's stock worth $2,259,000 after acquiring an additional 105 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in UFP Industries by 39.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company's stock worth $45,000 after acquiring an additional 119 shares during the period. QRG Capital Management Inc. lifted its position in UFP Industries by 0.3% during the 2nd quarter. QRG Capital Management Inc. now owns 38,191 shares of the construction company's stock worth $3,795,000 after acquiring an additional 124 shares during the period. Finally, Verdence Capital Advisors LLC lifted its position in UFP Industries by 6.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 2,227 shares of the construction company's stock worth $221,000 after acquiring an additional 126 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Zacks Research cut 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 price objective for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of UFP Industries in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $95.00 target price on UFP Industries and gave the stock a "hold" rating in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, UFP Industries currently has an average rating of "Hold" and an average price target of $124.25.

UFP Industries Stock Performance

Shares of UFPI stock opened at $90.66 on Monday. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 15.74 and a beta of 1.45. The stock has a 50 day simple moving average of $97.51 and a 200-day simple moving average of $99.98. UFP Industries, Inc. has a 12-month low of $88.99 and a 12-month high of $141.33. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released 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 net margin of 5.31% and a return on equity of 10.95%. The firm had revenue of $1.84 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same period in the previous year, the business earned $2.05 earnings per share. The business's revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Friday, August 29th. UFP Industries's dividend payout ratio (DPR) is presently 24.31%.

UFP Industries 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.

Want to see what other hedge funds are holding UFPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UFP Industries, Inc. (NASDAQ:UFPI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.