Arrowstreet Capital Limited Partnership Purchases 111,767 Shares of UFP Industries, Inc. $UFPI

Arrowstreet Capital Limited Partnership grew its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 4,597.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,198 shares of the construction company’s stock after purchasing an additional 111,767 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.19% of UFP Industries worth $11,347,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in UFPI. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of UFP Industries by 17.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company’s stock worth $401,550,000 after purchasing an additional 568,741 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of UFP Industries by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,917,463 shares of the construction company’s stock valued at $205,237,000 after purchasing an additional 25,903 shares in the last quarter. Boston Partners lifted its stake in shares of UFP Industries by 25.7% in the 2nd quarter. Boston Partners now owns 1,847,503 shares of the construction company’s stock valued at $183,569,000 after acquiring an additional 378,203 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of UFP Industries by 2.4% in the second quarter. Geode Capital Management LLC now owns 1,594,161 shares of the construction company’s stock worth $158,413,000 after purchasing an additional 37,534 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of UFP Industries by 14.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,207,793 shares of the construction company’s stock worth $127,386,000 after purchasing an additional 156,180 shares during the period. 81.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at UFP Industries

In related news, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the sale, the director owned 14,697 shares of the company’s stock, valued at $1,373,140.71. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.56% of the stock is owned by company insiders.

UFP Industries Stock Down 2.5%

Shares of NASDAQ UFPI opened at $87.77 on Wednesday. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 16.22 and a beta of 1.49. The company has a current ratio of 4.49, a quick ratio of 3.23 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $91.31 and its 200-day moving average price is $97.00. UFP Industries, Inc. has a 12-month low of $87.11 and a 12-month high of $132.78.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.08). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.18%. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.64 earnings per share. On average, equities research analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, December 1st. This represents a $1.40 annualized dividend and a dividend yield of 1.6%. UFP Industries’s dividend payout ratio is 25.88%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday, October 30th. Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 18th. DA Davidson raised UFP Industries from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $112.00 in a research report on Friday, October 31st. Finally, Stifel Nicolaus set a $98.00 price target on UFP Industries in a research note on Tuesday, December 2nd. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, UFP Industries has a consensus rating of “Hold” and a consensus target price of $114.25.

UFP Industries 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.