Vanguard Group Inc. Grows Stake in UFP Industries, Inc. $UFPI

Key Points

• Vanguard Group increased its stake in UFP Industries by 0.3% in Q4 to 6,117,218 shares, representing about 10.50% ownership worth roughly $557 million.
• UFP reported quarterly EPS of $0.89, missing estimates of $1.15, and revenue of $1.46 billion versus $1.51 billion expected, with revenue down 8.4% year-over-year.
• The company declared a quarterly dividend of $0.36 (annualized $1.44) for a yield of about 1.8%; the ex-dividend date is June 1 and the payment date is June 15.

Vanguard Group Inc. lifted its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,117,218 shares of the construction company's stock after purchasing an additional 17,016 shares during the quarter. Vanguard Group Inc. owned approximately 10.50% of UFP Industries worth $556,973,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in shares of UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock valued at $32,000 after purchasing an additional 114 shares during the period. Signaturefd LLC boosted its position in shares of UFP Industries by 66.1% in the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company's stock valued at $35,000 after purchasing an additional 154 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of UFP Industries by 648.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company's stock valued at $41,000 after purchasing an additional 376 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of UFP Industries in the 4th quarter valued at about $43,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of UFP Industries by 90.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company's stock valued at $54,000 after purchasing an additional 259 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on UFPI shares. Zacks Research cut UFP Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 17th. DA Davidson dropped their price objective on UFP Industries from $110.00 to $105.00 and set a "buy" rating for the company in a research note on Friday. Weiss Ratings reiterated a "hold (c-)" rating on shares of UFP Industries in a research report on Tuesday, January 27th. Benchmark decreased their target price on UFP Industries from $125.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday. Finally, BMO Capital Markets upgraded UFP Industries from a "market perform" rating to an "outperform" rating and set a $108.00 target price on the stock in a research report on Tuesday. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $107.60.

UFP Industries Stock Performance

UFP Industries stock opened at $80.31 on Tuesday. UFP Industries, Inc. has a fifty-two week low of $80.06 and a fifty-two week high of $118.00. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 17.53 and a beta of 1.29. The stock has a fifty day moving average of $94.61 and a two-hundred day moving average of $96.33. 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 (NASDAQ:UFPI - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm earned $1.30 earnings per share. The business's revenue was down 8.4% compared to the same quarter last year. On average, analysts anticipate that UFP Industries, Inc. will post 5.11 EPS for the current fiscal year.

UFP Industries Dividend Announcement

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

UFP Industries Company Profile

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.

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