UFP Industries, Inc. $UFPI Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 1,459.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,136 shares of the construction company’s stock after acquiring an additional 56,281 shares during the quarter. Fifth Third Bancorp’s holdings in UFP Industries were worth $5,540,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UFPI. Norges Bank acquired a new position in shares of UFP Industries during the fourth quarter worth $75,183,000. Wasatch Advisors LP increased its stake in UFP Industries by 32.9% during the 1st quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock worth $187,732,000 after buying an additional 504,609 shares during the period. River Road Asset Management LLC increased its stake in UFP Industries by 64.1% during the 4th quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock worth $80,118,000 after buying an additional 343,830 shares during the period. Millennium Management LLC lifted its holdings in UFP Industries by 209.9% in the 3rd quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock worth $39,765,000 after buying an additional 288,093 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in UFP Industries by 2,178.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 213,320 shares of the construction company’s stock worth $19,423,000 after buying an additional 203,957 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UFPI. Weiss Ratings downgraded UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. DA Davidson cut their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Benchmark reduced their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus dropped their price objective on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, UFP Industries currently has a consensus rating of “Hold” and an average target price of $105.40.

UFP Industries Trading Down 3.4%

Shares of NASDAQ UFPI opened at $85.93 on Friday. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $84.17 and its two-hundred day moving average price is $93.47. UFP Industries, Inc. has a 52-week low of $77.89 and a 52-week high of $118.00. The stock has a market capitalization of $4.85 billion, a P/E ratio of 18.76 and a beta of 1.22.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the business posted $1.30 EPS. UFP Industries’s revenue was down 8.4% compared to the same quarter last year. On average, analysts anticipate that UFP Industries, Inc. will post 4.57 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were 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 of this dividend was Monday, June 1st. 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.