UFP Industries, Inc. $UFPI Shares Purchased by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in UFP Industries by 4.9% in the fourth quarter, buying 38,021 shares and bringing its total holding to 806,395 shares worth about $73.4 million.
• UFP Industries reported mixed quarterly results, posting $0.89 EPS versus the $1.15 estimate and revenue of $1.46 billion versus $1.51 billion expected. Revenue fell 8.4% year over year.
• The company declared a quarterly dividend of $0.36 per share, equal to an annualized yield of 1.8%, while analysts currently have a consensus rating of Hold with an average price target of $105.40.

Royce & Associates LP boosted its holdings in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 806,395 shares of the construction company's stock after buying an additional 38,021 shares during the quarter. UFP Industries accounts for about 0.7% of Royce & Associates LP's investment portfolio, making the stock its 11th largest position. Royce & Associates LP owned approximately 1.38% of UFP Industries worth $73,422,000 as of its most recent filing with the SEC.

Other hedge funds have also recently 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 grew its position in UFP Industries by 66.1% during the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company's stock worth $35,000 after purchasing an additional 154 shares in the last quarter. Danske Bank A S grew its position in UFP Industries by 300.0% during the 4th quarter. Danske Bank A S now owns 400 shares of the construction company's stock worth $36,000 after purchasing an additional 300 shares in the last quarter. IFP Advisors Inc grew its position in UFP Industries by 84.8% during the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company's stock worth $38,000 after purchasing an additional 190 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in UFP Industries by 648.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company's stock worth $41,000 after purchasing an additional 376 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company's stock.

UFP Industries Price Performance

Shares of UFPI opened at $80.54 on Tuesday. The company has a 50-day simple moving average of $89.30 and a 200-day simple moving average of $95.28. The firm has a market capitalization of $4.55 billion, a P/E ratio of 17.59 and a beta of 1.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.07 and a current ratio of 4.64. UFP Industries, Inc. has a 52 week low of $77.89 and a 52 week high of $118.00.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.26). The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The firm's quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.30 EPS. On average, equities research analysts expect that UFP Industries, Inc. will post 4.6 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.8%. UFP Industries's payout ratio is presently 31.44%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Benchmark decreased their target price on shares of UFP Industries from $125.00 to $115.00 and set a "buy" rating for the company in a research note on Friday, May 1st. DA Davidson decreased their target price on shares of UFP Industries from $110.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Weiss Ratings reissued a "hold (c-)" rating on shares of UFP Industries in a research note on Tuesday, January 27th. Zacks Research lowered shares of UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 17th. Finally, Stifel Nicolaus reduced their price objective on shares of UFP Industries from $100.00 to $87.00 and set a "hold" rating for the company in a research note on Monday, May 11th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, UFP Industries has a consensus rating of "Hold" and an average price target of $105.40.

About UFP Industries

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.