Sei Investments Co. Has $24.17 Million Position in UFP Industries, Inc. $UFPI

Sei Investments Co. boosted its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 19.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 262,394 shares of the construction company’s stock after acquiring an additional 42,171 shares during the period. Sei Investments Co.’s holdings in UFP Industries were worth $24,171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in UFPI. Norges Bank bought a new position in UFP Industries during the fourth quarter worth $75,183,000. Wasatch Advisors LP raised its position in shares of UFP Industries by 32.9% in the first quarter. Wasatch Advisors LP now owns 2,037,908 shares of the construction company’s stock valued at $187,732,000 after purchasing an additional 504,609 shares during the period. River Road Asset Management LLC lifted its stake in shares of UFP Industries by 64.1% during the 4th quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock worth $80,118,000 after buying an additional 343,830 shares during the last quarter. Millennium Management LLC lifted its stake in shares of UFP Industries by 209.9% during the 3rd quarter. Millennium Management LLC now owns 425,336 shares of the construction company’s stock worth $39,765,000 after buying an additional 288,093 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of UFP Industries by 2,178.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 213,320 shares of the construction company’s stock worth $19,423,000 after buying an additional 203,957 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Trading Up 3.2%

Shares of UFP Industries stock opened at $91.01 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.07 and a current ratio of 4.64. The firm has a 50-day moving average of $84.97 and a 200-day moving average of $93.21. UFP Industries, Inc. has a 52-week low of $77.89 and a 52-week high of $118.00. The stock has a market cap of $5.14 billion, a PE ratio of 19.87 and a beta of 1.22.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the prior year, the business posted $1.30 earnings per share. UFP Industries’s revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that UFP Industries, Inc. will post 4.57 EPS for the current year.

UFP Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued 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 dividend yield of 1.6%. UFP Industries’s dividend payout ratio (DPR) is currently 31.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Stifel Nicolaus decreased 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 note on Monday, May 11th. BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a report on Tuesday, May 5th. Benchmark decreased their target price on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Weiss Ratings lowered UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Finally, DA Davidson lowered their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $103.75.

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.