UFP Industries, Inc. $UFPI Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 78.9% during the 4th quarter, HoldingsChannel reports. The fund owned 15,170 shares of the construction company’s stock after buying an additional 6,690 shares during the period. AlphaQuest LLC’s holdings in UFP Industries were worth $1,381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in UFP Industries by 54.8% during the second 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 last quarter. Signaturefd LLC grew its holdings in UFP Industries by 66.1% in the 4th quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock worth $35,000 after buying an additional 154 shares in the last quarter. Danske Bank A S grew its holdings in UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock worth $36,000 after buying an additional 300 shares in the last quarter. IFP Advisors Inc grew its position in UFP Industries by 84.8% in the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after buying an additional 190 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in 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 buying an additional 376 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UFPI has been the topic of a number of recent research reports. Stifel Nicolaus decreased their target price on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Benchmark reduced their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. DA Davidson reduced their price objective 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. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Finally, BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $105.40.

UFP Industries Trading Down 1.4%

Shares of UFPI opened at $81.51 on Friday. The stock has a market cap of $4.60 billion, a PE ratio of 17.80 and a beta of 1.29. The company has a current ratio of 4.64, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $88.81 and a 200-day simple moving average of $95.07. UFP Industries, Inc. has a 1 year low of $77.89 and a 1 year high of $118.00.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) 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 firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the business earned $1.30 EPS. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, sell-side analysts predict that UFP Industries, Inc. will post 4.6 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 dividend yield of 1.8%. UFP Industries’s payout ratio is currently 31.44%.

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.