Renaissance Technologies LLC Decreases Stock Position in UFP Industries, Inc. $UFPI

Renaissance Technologies LLC trimmed its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 61.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,000 shares of the construction company’s stock after selling 100,709 shares during the quarter. Renaissance Technologies LLC owned approximately 0.11% of UFP Industries worth $5,804,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in UFP Industries by 3.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,197 shares of the construction company’s stock valued at $291,000 after acquiring an additional 92 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in UFP Industries by 2.1% in the 4th quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company’s stock worth $423,000 after purchasing an additional 97 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after purchasing an additional 114 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in shares of UFP Industries by 1.3% during the 4th quarter. SkyView Investment Advisors LLC now owns 9,133 shares of the construction company’s stock worth $832,000 after purchasing an additional 114 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of UFP Industries by 1.1% in the fourth quarter. ProShare Advisors LLC now owns 12,972 shares of the construction company’s stock valued at $1,181,000 after purchasing an additional 145 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on UFPI. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price for the company in a report on Tuesday, May 5th. Weiss Ratings downgraded UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Benchmark reduced their price target on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Stifel Nicolaus lowered their price target on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, UFP Industries presently has a consensus rating of “Hold” and a consensus price target of $103.75.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $92.70 on Thursday. UFP Industries, Inc. has a fifty-two week low of $77.89 and a fifty-two week high of $118.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98. The company has a 50 day moving average price of $86.01 and a 200 day moving average price of $92.64. The stock has a market capitalization of $5.24 billion, a P/E ratio of 21.26 and a beta of 1.23.

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

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 1.6%. UFP Industries’s dividend payout ratio is presently 33.03%.

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.