AXQ Capital LP Takes Position in UFP Industries, Inc. (NASDAQ:UFPI)

AXQ Capital LP purchased a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,834 shares of the construction company’s stock, valued at approximately $319,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in UFP Industries by 13.4% during the third quarter. FMR LLC now owns 1,635,577 shares of the construction company’s stock valued at $214,604,000 after purchasing an additional 193,891 shares during the period. Geode Capital Management LLC lifted its position in UFP Industries by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,528,221 shares of the construction company’s stock valued at $200,553,000 after purchasing an additional 14,857 shares during the period. Franklin Resources Inc. lifted its position in UFP Industries by 18.2% during the third quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after purchasing an additional 188,969 shares during the period. Allspring Global Investments Holdings LLC lifted its position in UFP Industries by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company’s stock valued at $102,158,000 after purchasing an additional 31,381 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in UFP Industries by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 772,001 shares of the construction company’s stock valued at $86,966,000 after purchasing an additional 2,160 shares during the period. Institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Down 0.4 %

UFPI opened at $107.50 on Monday. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 1-year low of $102.35 and a 1-year high of $141.33. The company has a market capitalization of $6.54 billion, a PE ratio of 15.88 and a beta of 1.52. The firm’s 50 day simple moving average is $112.19 and its two-hundred day simple moving average is $121.30.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data on Monday, February 17th. The construction company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. As a group, equities analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.35 dividend. The ex-dividend date was Monday, March 3rd. This is a boost from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.30%. UFP Industries’s dividend payout ratio is 20.68%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UFPI. Benchmark restated a “buy” rating and set a $135.00 price objective on shares of UFP Industries in a research report on Wednesday, February 19th. StockNews.com downgraded shares of UFP Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, UFP Industries has an average rating of “Moderate Buy” and an average price target of $143.00.

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.