UFP Industries, Inc. $UFPI Shares Bought by Kennedy Capital Management LLC

Kennedy Capital Management LLC raised its position in UFP Industries, Inc. (NASDAQ:UFPI) by 11.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 273,818 shares of the construction company’s stock after acquiring an additional 28,958 shares during the period. UFP Industries makes up 0.5% of Kennedy Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Kennedy Capital Management LLC’s holdings in UFP Industries were worth $24,931,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada lifted its stake in shares of UFP Industries by 3.0% in the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock valued at $6,597,000 after purchasing an additional 1,798 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of UFP Industries by 8.1% in the first quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock valued at $317,000 after purchasing an additional 221 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of UFP Industries by 10.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock valued at $13,831,000 after purchasing an additional 12,043 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of UFP Industries by 90.9% in the second 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. Finally, Walleye Capital LLC acquired a new position in UFP Industries during the second quarter worth about $232,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on UFPI. 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 report on Tuesday, May 5th. Benchmark cut their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Stifel Nicolaus cut their target price on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 11th. DA Davidson cut their target price on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Weiss Ratings cut shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $105.40.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $84.56 on Friday. The company has a market cap of $4.78 billion, a PE ratio of 18.46 and a beta of 1.24. UFP Industries, Inc. has a 12 month low of $77.89 and a 12 month high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. The company has a 50-day simple moving average of $86.94 and a 200-day simple moving average of $94.39.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. On average, equities analysts anticipate that UFP Industries, Inc. will post 4.6 earnings per share for the current year.

UFP Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors 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 yield of 1.7%. The ex-dividend date is Monday, June 1st. UFP Industries’s payout ratio is presently 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.