Xponance Inc. increased its position in UFP Industries, Inc. (NASDAQ:UFPI – Free Report) by 161.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,814 shares of the construction company’s stock after acquiring an additional 6,066 shares during the period. Xponance Inc.’s holdings in UFP Industries were worth $780,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in UFP Industries by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 7,378,757 shares of the construction company’s stock valued at $532,450,000 after buying an additional 33,825 shares in the last quarter. Dimensional Fund Advisors LP grew its position in UFP Industries by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,818,720 shares of the construction company’s stock valued at $223,384,000 after buying an additional 101,530 shares in the last quarter. State Street Corp grew its position in UFP Industries by 2.3% in the 2nd quarter. State Street Corp now owns 2,021,865 shares of the construction company’s stock valued at $137,770,000 after buying an additional 45,440 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of UFP Industries by 0.8% during the 4th quarter. Franklin Resources Inc. now owns 1,890,059 shares of the construction company’s stock valued at $149,787,000 after purchasing an additional 15,651 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of UFP Industries by 25.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,714,394 shares of the construction company’s stock valued at $135,866,000 after purchasing an additional 348,158 shares in the last quarter. Institutional investors and hedge funds own 81.34% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on UFPI. BMO Capital Markets raised their price objective on shares of UFP Industries from $95.00 to $100.00 in a research report on Tuesday, May 16th. Stifel Nicolaus reduced their price objective on shares of UFP Industries from $102.00 to $100.00 in a research report on Wednesday, May 3rd. DA Davidson upped their price objective on shares of UFP Industries from $102.00 to $112.00 in a research note on Wednesday, May 3rd. Finally, StockNews.com began coverage on shares of UFP Industries in a research note on Thursday, May 18th. They set a “buy” rating for the company.
UFP Industries Price Performance
UFP Industries (NASDAQ:UFPI – Free Report) last posted its quarterly earnings results on Tuesday, May 2nd. The construction company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.33. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. UFP Industries had a net margin of 7.02% and a return on equity of 24.92%. The firm’s revenue was down 26.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 earnings per share. On average, analysts forecast that UFP Industries, Inc. will post 8.29 earnings per share for the current year.
UFP Industries Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date was Wednesday, May 31st. UFP Industries’s payout ratio is presently 10.03%.
Insider Activity at UFP Industries
In related news, CEO Matthew J. Missad sold 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $87.10, for a total transaction of $391,950.00. Following the transaction, the chief executive officer now owns 360,545 shares of the company’s stock, valued at $31,403,469.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other UFP Industries news, CEO Matthew J. Missad sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $83.60, for a total transaction of $418,000.00. Following the transaction, the chief executive officer now owns 365,545 shares in the company, valued at $30,559,562. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew J. Missad sold 4,500 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $87.10, for a total value of $391,950.00. Following the transaction, the chief executive officer now owns 360,545 shares in the company, valued at approximately $31,403,469.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,500 shares of company stock valued at $1,516,830. 3.55% of the stock is currently owned by corporate insiders.
UFP Industries Company Profile
UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.
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