Flagship Capital Management Inc. Makes New Investment in UFP Industries, Inc. $UFPI

Flagship Capital Management Inc. purchased a new position in UFP Industries, Inc. (NASDAQ:UFPI) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,022 shares of the construction company’s stock, valued at approximately $1,550,000. UFP Industries accounts for about 1.1% of Flagship Capital Management Inc.’s portfolio, making the stock its 27th largest position.

Several other institutional investors have also added to or reduced their stakes in UFPI. Deprince Race & Zollo Inc. bought a new position in UFP Industries in the third quarter worth approximately $41,962,000. Millennium Management LLC raised its position in UFP Industries by 209.9% in the third quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock worth $39,765,000 after acquiring an additional 288,093 shares during the period. Cubist Systematic Strategies LLC bought a new position in UFP Industries in the second quarter worth approximately $20,151,000. Jane Street Group LLC raised its position in UFP Industries by 121.9% in the second quarter. Jane Street Group LLC now owns 267,818 shares of the construction company’s stock worth $26,610,000 after acquiring an additional 147,100 shares during the period. Finally, UBS Group AG raised its position in UFP Industries by 47.3% in the third quarter. UBS Group AG now owns 429,440 shares of the construction company’s stock worth $40,148,000 after acquiring an additional 137,968 shares during the period. 81.81% of the stock is currently owned by institutional investors.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $94.87 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.13 and a current ratio of 4.59. The firm has a fifty day moving average price of $99.71 and a 200 day moving average price of $95.98. UFP Industries, Inc. has a fifty-two week low of $84.82 and a fifty-two week high of $118.00. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 19.01 and a beta of 1.44.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.33). UFP Industries had a return on equity of 9.27% and a net margin of 4.66%.The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $1.12 EPS. UFP Industries’s revenue was down 9.0% compared to the same quarter last year. As a group, sell-side analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.36 per share. This is a positive change from UFP Industries’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, March 2nd. UFP Industries’s dividend payout ratio (DPR) is currently 28.86%.

Analysts Set New Price Targets

Several research firms have weighed in on UFPI. Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research note on Tuesday, January 27th. Finally, DA Davidson reduced their price objective on shares of UFP Industries from $112.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $106.67.

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.