Deprince Race & Zollo Inc. Invests $41.96 Million in UFP Industries, Inc. $UFPI

Deprince Race & Zollo Inc. acquired a new position in UFP Industries, Inc. (NASDAQ:UFPI) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 448,838 shares of the construction company’s stock, valued at approximately $41,962,000. Deprince Race & Zollo Inc. owned about 0.77% of UFP Industries at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Boston Partners grew its stake in UFP Industries by 25.7% in the 2nd quarter. Boston Partners now owns 1,847,503 shares of the construction company’s stock worth $183,569,000 after buying an additional 378,203 shares in the last quarter. Geode Capital Management LLC grew its position in 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 acquiring an additional 37,534 shares in the last quarter. Wasatch Advisors LP increased its stake in UFP Industries by 5.1% in the second quarter. Wasatch Advisors LP now owns 1,408,538 shares of the construction company’s stock valued at $139,952,000 after acquiring an additional 67,849 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in UFP Industries by 14.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,207,793 shares of the construction company’s stock valued at $127,386,000 after acquiring an additional 156,180 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in UFP Industries by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 790,648 shares of the construction company’s stock valued at $78,559,000 after purchasing an additional 20,387 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UFPI has been the subject of a number of research reports. DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $112.00 in a report on Friday, October 31st. Stifel Nicolaus set a $98.00 target price on UFP Industries in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research report on Thursday, October 30th. Finally, Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $114.25.

Insider Activity

In other UFP Industries news, Chairman Matthew J. Missad sold 11,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the sale, the chairman owned 310,533 shares in the company, valued at approximately $28,649,774.58. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total value of $111,368.56. Following the completion of the sale, the director owned 14,697 shares in the company, valued at approximately $1,373,140.71. This represents a 7.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.56% of the stock is owned by company insiders.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $92.83 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. UFP Industries, Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $120.00. The firm has a market cap of $5.41 billion, a PE ratio of 17.16 and a beta of 1.49. The business has a 50 day moving average price of $91.67 and a 200-day moving average price of $96.55.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates 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 company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.64 earnings per share. Equities research analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, December 1st. UFP Industries’s dividend payout ratio is currently 25.88%.

UFP Industries Company 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.