Norges Bank Invests $75.18 Million in UFP Industries, Inc. $UFPI

Norges Bank acquired a new position in UFP Industries, Inc. (NASDAQ:UFPI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 825,736 shares of the construction company’s stock, valued at approximately $75,183,000.

Several other hedge funds have also recently made changes to their positions in UFPI. Millennium Management LLC raised its position in shares of UFP Industries by 209.9% in the 3rd 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 in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of UFP Industries in the 2nd quarter worth about $20,151,000. Jane Street Group LLC raised its position in shares of UFP Industries by 121.9% in the 2nd 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 in the last quarter. UBS Group AG raised its position in shares of UFP Industries by 47.3% in the 3rd 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 in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of UFP Industries in the 2nd quarter worth about $10,428,000. 81.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Weiss Ratings lowered UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Benchmark decreased their target price on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Stifel Nicolaus decreased their target price on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 11th. BMO Capital Markets raised UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research report on Tuesday, May 5th. Finally, DA Davidson decreased their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Three equities 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.40.

UFP Industries Stock Performance

Shares of UFP Industries stock opened at $80.10 on Friday. UFP Industries, Inc. has a one year low of $77.89 and a one year high of $118.00. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 17.49 and a beta of 1.24. The business has a 50-day simple moving average of $87.70 and a 200 day simple moving average of $94.60. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07.

UFP Industries (NASDAQ:UFPI) last issued its 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 firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.51 billion. UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.30 earnings per share. On average, research analysts anticipate that UFP Industries, Inc. will post 4.6 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

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

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.