Geode Capital Management LLC Has $138.91 Million Stock Position in UFP Industries, Inc. $UFPI

Geode Capital Management LLC lowered its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,525,383 shares of the construction company’s stock after selling 22,468 shares during the period. Geode Capital Management LLC’s holdings in UFP Industries were worth $138,907,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its position in UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after buying an additional 114 shares in the last quarter. Signaturefd LLC boosted its position in UFP Industries by 66.1% in the fourth quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock valued at $35,000 after buying an additional 154 shares in the last quarter. Danske Bank A S boosted its position in UFP Industries by 300.0% in the fourth quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. IFP Advisors Inc boosted its position in UFP Industries by 84.8% in the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after buying an additional 190 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in UFP Industries by 648.3% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company’s stock valued at $41,000 after buying an additional 376 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on UFPI shares. Stifel Nicolaus cut their target price on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research report on Monday, May 11th. Weiss Ratings lowered shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 17th. DA Davidson cut their target price on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Benchmark cut their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, UFP Industries currently has a consensus rating of “Hold” and an average target price of $105.40.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $80.22 on Friday. The firm has a market cap of $4.53 billion, a PE ratio of 17.52 and a beta of 1.24. The firm’s fifty day moving average is $87.94 and its 200-day moving average is $94.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.07 and a current ratio of 4.64. UFP Industries, Inc. has a 52 week low of $77.89 and a 52 week high of $118.00.

UFP Industries (NASDAQ:UFPI) last issued 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). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.UFP Industries’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.30 EPS. Sell-side analysts predict that UFP Industries, Inc. will post 4.6 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 1st. UFP Industries’s payout ratio is 31.44%.

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.