Jane Street Group LLC Acquires 97,274 Shares of UFP Industries, Inc. $UFPI

Key Points

• Jane Street Group LLC significantly increased its holdings in UFP Industries, Inc. by 414.9%, acquiring an additional 97,274 shares, bringing their total to approximately 120,718 shares valued at $12.9 million.
• UFP Industries reported a miss in its quarterly earnings, with earnings per share (EPS) of $1.70 compared to analysts' expectations of $1.95, and a revenue decline of 3.5% compared to the previous year.
• The company's recently declared quarterly dividend of $0.35 represents a 1.4% dividend yield and a payout ratio of 24.31%.

Jane Street Group LLC raised its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 414.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 120,718 shares of the construction company's stock after buying an additional 97,274 shares during the period. Jane Street Group LLC owned about 0.20% of UFP Industries worth $12,922,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UFPI. Boston Partners boosted its holdings in UFP Industries by 118.6% in the 1st quarter. Boston Partners now owns 1,469,300 shares of the construction company's stock worth $157,270,000 after buying an additional 797,069 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in UFP Industries by 17.9% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company's stock worth $401,550,000 after buying an additional 568,741 shares during the last quarter. Nuveen LLC acquired a new stake in UFP Industries in the 1st quarter worth about $18,224,000. GAMMA Investing LLC boosted its holdings in shares of UFP Industries by 22,107.5% during the 1st quarter. GAMMA Investing LLC now owns 160,560 shares of the construction company's stock worth $17,186,000 after purchasing an additional 159,837 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of UFP Industries by 14.4% during 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 purchasing an additional 132,595 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on UFPI. Zacks Research cut UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. Loop Capital began coverage on UFP Industries in a report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 target price on the stock. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $134.00.

UFP Industries Trading Down 2.9%

NASDAQ:UFPI traded down $2.88 during trading hours on Friday, reaching $95.32. 1,485,851 shares of the company were exchanged, compared to its average volume of 309,430. UFP Industries, Inc. has a 52-week low of $93.00 and a 52-week high of $141.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 16.55 and a beta of 1.47. The stock has a 50 day simple moving average of $101.27 and a 200 day simple moving average of $102.24.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results 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). The company had revenue of $1.84 billion during 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%.UFP Industries's revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 EPS. As a group, analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

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