UFP Industries, Inc. $UFPI Position Increased by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in UFP Industries, Inc. by 123.4% in Q1, owning 53,358 shares valued at $5.71 million.
• UFP Industries reported Q2 earnings of $1.70 per share, missing expectations by $0.25 and showing a 3.5% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.35 per share, representing a 1.4% yield with a payout ratio of 24.31%.

Vestmark Advisory Solutions Inc. increased its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 123.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,358 shares of the construction company's stock after acquiring an additional 29,474 shares during the period. Vestmark Advisory Solutions Inc. owned approximately 0.09% of UFP Industries worth $5,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its stake in shares of UFP Industries by 39.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,546,745 shares of the construction company's stock valued at $174,241,000 after purchasing an additional 435,155 shares during the period. Boston Partners increased its position in UFP Industries by 118.6% during the first quarter. Boston Partners now owns 1,469,300 shares of the construction company's stock worth $157,270,000 after purchasing an additional 797,069 shares during the last quarter. Northern Trust Corp increased its position in shares of UFP Industries by 9.7% during the 4th quarter. Northern Trust Corp now owns 1,111,147 shares of the construction company's stock worth $125,171,000 after purchasing an additional 98,533 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in UFP Industries by 14.4% during the first 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 in the last quarter. Finally, First Trust Advisors LP grew its position in UFP Industries by 39.3% in the 4th quarter. First Trust Advisors LP now owns 791,886 shares of the construction company's stock valued at $89,206,000 after acquiring an additional 223,522 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company's stock.

UFP Industries Trading Up 1.8%

UFPI stock traded up $1.8450 during midday trading on Tuesday, reaching $102.5550. 125,777 shares of the company's stock traded hands, compared to its average volume of 434,032. The business has a 50-day moving average price of $101.21 and a two-hundred day moving average price of $103.97. The company has a market capitalization of $6.01 billion, a P/E ratio of 17.84 and a beta of 1.43. UFP Industries, Inc. has a fifty-two week low of $93.00 and a fifty-two 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.

UFP Industries (NASDAQ:UFPI - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.25). The firm 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 firm's revenue was down 3.5% compared to the same quarter last year. During the same period last year, the business earned $2.05 EPS. Equities research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 1st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 29th. UFP Industries's dividend payout ratio (DPR) is presently 24.31%.

Wall Street Analysts Forecast Growth

Separately, Loop Capital assumed coverage on UFP Industries in a report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price target on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, UFP Industries has an average rating of "Moderate Buy" and an average target price of $134.00.

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.