UFP Industries, Inc. $UFPI Shares Acquired by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in UFP Industries by 1.6%, owning 1,129,244 shares worth approximately $120.87 million after acquiring an additional 18,097 shares.
• UFP Industries reported $1.70 EPS for the last quarter, missing analyst expectations of $1.95, and its quarterly revenue decreased by 3.5% year-over-year.
• The company announced a quarterly dividend of $0.35 per share, which will be paid to stockholders on September 15, representing a yield of 1.3%.

Northern Trust Corp boosted its stake in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,129,244 shares of the construction company's stock after acquiring an additional 18,097 shares during the period. Northern Trust Corp owned 1.87% of UFP Industries worth $120,874,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Corient IA LLC acquired a new stake in shares of UFP Industries during the first quarter worth $321,000. Northwest & Ethical Investments L.P. raised its holdings in shares of UFP Industries by 228.3% during the first quarter. Northwest & Ethical Investments L.P. now owns 9,438 shares of the construction company's stock worth $1,009,000 after purchasing an additional 6,563 shares during the period. Raymond James Financial Inc. raised its holdings in shares of UFP Industries by 18.8% during the first quarter. Raymond James Financial Inc. now owns 321,133 shares of the construction company's stock worth $34,374,000 after purchasing an additional 50,762 shares during the period. Nations Financial Group Inc. IA ADV raised its holdings in shares of UFP Industries by 2.1% during the first quarter. Nations Financial Group Inc. IA ADV now owns 6,950 shares of the construction company's stock worth $744,000 after purchasing an additional 141 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of UFP Industries by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,917,463 shares of the construction company's stock worth $205,237,000 after purchasing an additional 25,903 shares during the period. Institutional investors own 81.81% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on UFPI shares. Loop Capital started coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 target price on the stock. Zacks Research cut shares of UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $134.00.

UFP Industries Stock Up 7.5%

UFPI stock opened at $107.08 on Friday. UFP Industries, Inc. has a 52 week low of $93.00 and a 52 week high of $141.33. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 18.59 and a beta of 1.43. The firm's 50-day moving average is $101.56 and its two-hundred day moving average is $103.76. 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 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 company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.85 billion. UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The firm's quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 earnings per share. On average, analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company 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. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. UFP Industries's dividend payout ratio (DPR) is 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.

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