Quantinno Capital Management LP Raises Position in UFP Industries, Inc. $UFPI

Quantinno Capital Management LP increased its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 207.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,990 shares of the construction company’s stock after purchasing an additional 23,595 shares during the period. Quantinno Capital Management LP’s holdings in UFP Industries were worth $3,223,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of UFP Industries during the 4th quarter valued at about $75,183,000. Wasatch Advisors LP boosted its position in shares of UFP Industries by 32.9% in the first quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock worth $187,732,000 after acquiring an additional 504,609 shares during the last quarter. River Road Asset Management LLC grew its holdings in UFP Industries by 64.1% in the fourth quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock valued at $80,118,000 after purchasing an additional 343,830 shares during the period. Millennium Management LLC grew its holdings in UFP Industries by 209.9% in the third quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock valued at $39,765,000 after purchasing an additional 288,093 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in UFP Industries by 2,178.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 213,320 shares of the construction company’s stock worth $19,423,000 after purchasing an additional 203,957 shares during the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Price Performance

UFP Industries stock opened at $94.04 on Friday. UFP Industries, Inc. has a 52-week low of $77.89 and a 52-week high of $118.00. The firm has a fifty day moving average of $86.47 and a 200-day moving average of $92.54. The firm has a market capitalization of $5.19 billion, a P/E ratio of 21.57 and a beta of 1.23. The company has a quick ratio of 2.64, a current ratio of 3.98 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.11. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.79 billion. As a group, analysts predict that UFP Industries, Inc. will post 4.56 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 1.5%. UFP Industries’s dividend payout ratio (DPR) is 33.03%.

Analysts Set New Price Targets

A number of research firms have weighed in on UFPI. BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target on the stock in a research note on Tuesday, May 5th. Weiss Ratings upgraded UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Zacks Research raised UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. DA Davidson lowered their price target on 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, Benchmark dropped their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.75.

UFP Industries Profile

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.