Squarepoint Ops LLC Increases Stake in UFP Industries, Inc. $UFPI

Squarepoint Ops LLC raised its position in UFP Industries, Inc. (NASDAQ:UFPI) by 182.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 82,360 shares of the construction company’s stock after acquiring an additional 53,166 shares during the period. Squarepoint Ops LLC owned approximately 0.15% of UFP Industries worth $7,473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in UFPI. IAG Wealth Partners LLC purchased a new position in UFP Industries during the first quarter worth about $28,000. Root Financial Partners LLC boosted its holdings in UFP Industries by 86.0% in the 1st quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock valued at $29,000 after purchasing an additional 148 shares in the last quarter. Geneos Wealth Management Inc. increased its position in UFP Industries by 54.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after purchasing an additional 114 shares during the period. CIBC Private Wealth Group LLC increased its position in UFP Industries by 117.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock worth $38,000 after purchasing an additional 223 shares during the period. Finally, IFP Advisors Inc raised its stake in shares of UFP Industries by 84.8% during the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock worth $38,000 after buying an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Price Performance

UFPI stock opened at $80.20 on Friday. The firm has a 50 day moving average of $87.14 and a 200-day moving average of $88.60. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 18.39 and a beta of 1.22. The company has a current ratio of 3.98, a quick ratio of 2.64 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12-month low of $77.89 and a 12-month high of $118.00.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.11. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.79 billion. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%. As a group, equities analysts expect that UFP Industries, Inc. will post 4.51 EPS for the current fiscal year.

UFP Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 annualized dividend and a yield of 1.8%. UFP Industries’s dividend payout ratio is 33.03%.

Wall Street Analysts Forecast Growth

UFPI has been the topic of a number of analyst reports. Weiss Ratings upgraded UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Finally, Stifel Nicolaus set a $90.00 target price on UFP Industries and gave the company a “hold” rating in a report on Monday, August 24th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, UFP Industries has an average rating of “Moderate Buy” and a consensus price target of $104.50.

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.