Wedge Capital Management L L P NC Purchases 15,449 Shares of UFP Industries, Inc. $UFPI

Key Points

• Wedge Capital Management L L P NC increased its holdings in UFP Industries by 27.3% during the 2nd quarter, adding 15,449 shares to own approximately 0.12% of the company.
• UFP Industries reported a miss in quarterly earnings with EPS of $1.70, falling short of the $1.95 consensus estimate, and experienced a 3.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.35, representing a 1.5% yield, and has a dividend payout ratio of 24.31%.

Wedge Capital Management L L P NC increased its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 27.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,999 shares of the construction company's stock after acquiring an additional 15,449 shares during the period. Wedge Capital Management L L P NC owned about 0.12% of UFP Industries worth $7,154,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of UFPI. Boston Partners raised its stake in UFP Industries by 118.6% in the first quarter. Boston Partners now owns 1,469,300 shares of the construction company's stock valued at $157,270,000 after buying an additional 797,069 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in UFP Industries by 17.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company's stock valued at $401,550,000 after buying an additional 568,741 shares during the period. Nuveen LLC bought a new stake in UFP Industries in the first quarter valued at approximately $18,224,000. GAMMA Investing LLC raised its stake in UFP Industries by 22,107.5% in the first quarter. GAMMA Investing LLC now owns 160,560 shares of the construction company's stock valued at $17,186,000 after buying an additional 159,837 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in UFP Industries by 14.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,051,613 shares of the construction company's stock valued at $112,112,000 after buying an additional 132,595 shares during the period. Institutional investors own 81.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on UFPI. Zacks Research lowered UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. Loop Capital began coverage on UFP Industries in a research note on Wednesday, July 23rd. They issued a "hold" rating and a $112.00 price objective on the stock. Two research 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 MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $134.00.

UFP Industries Price Performance

NASDAQ:UFPI traded down $0.13 during trading hours on Monday, reaching $95.19. 422,036 shares of the company were exchanged, compared to its average volume of 427,630. The business has a 50 day moving average of $101.27 and a 200 day moving average of $102.18. The company has a market capitalization of $5.58 billion, a P/E ratio of 16.53 and a beta of 1.47. UFP Industries, Inc. has a 1-year low of $93.00 and a 1-year 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.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.25). The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 EPS. Research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

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

About UFP Industries

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.