Y Intercept Hong Kong Ltd Buys 6,058 Shares of UFP Industries, Inc. $UFPI

Y Intercept Hong Kong Ltd raised its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 18.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 38,200 shares of the construction company’s stock after purchasing an additional 6,058 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in UFP Industries were worth $3,519,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Royal Bank of Canada lifted its position in UFP Industries by 3.0% in the 1st quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock worth $6,597,000 after buying an additional 1,798 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in UFP Industries by 8.1% during the first quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock valued at $317,000 after acquiring an additional 221 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of UFP Industries by 10.3% during 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 worth $13,831,000 after acquiring an additional 12,043 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of UFP Industries by 90.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after acquiring an additional 259 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of UFP Industries during the 2nd quarter valued at $232,000. 81.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on UFPI shares. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Stifel Nicolaus decreased their price target on UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Weiss Ratings lowered UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Benchmark lowered their price target on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, BMO Capital Markets raised shares of 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. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.40.

UFP Industries Stock Down 1.6%

NASDAQ UFPI traded down $1.36 during trading hours on Tuesday, reaching $85.93. 34,914 shares of the company’s stock traded hands, compared to its average volume of 435,412. UFP Industries, Inc. has a 52-week low of $77.89 and a 52-week 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 firm has a 50-day simple moving average of $84.97 and a 200 day simple moving average of $93.98. The firm has a market cap of $4.85 billion, a PE ratio of 18.78 and a beta of 1.22.

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 company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.During the same period in the prior year, the firm earned $1.30 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts anticipate that UFP Industries, Inc. will post 4.6 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.7%. UFP Industries’s dividend payout ratio (DPR) is presently 31.44%.

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.