Magnetar Financial LLC Acquires New Stake in UFP Industries, Inc. $UFPI

Magnetar Financial LLC bought a new position in UFP Industries, Inc. (NASDAQ:UFPI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 28,716 shares of the construction company’s stock, valued at approximately $2,853,000.

Several other hedge funds have also recently made changes to their positions in UFPI. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of UFP Industries during the 1st quarter worth $1,198,000. AE Wealth Management LLC purchased a new stake in UFP Industries during the first quarter valued at about $305,000. FourThought Financial Partners LLC boosted its position in UFP Industries by 9.1% during the first quarter. FourThought Financial Partners LLC now owns 2,506 shares of the construction company’s stock worth $268,000 after purchasing an additional 208 shares during the period. Inspire Advisors LLC purchased a new position in shares of UFP Industries in the first quarter worth about $652,000. Finally, LPL Financial LLC raised its position in shares of UFP Industries by 1.6% in the first quarter. LPL Financial LLC now owns 16,678 shares of the construction company’s stock valued at $1,785,000 after purchasing an additional 268 shares during the period. 81.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on UFPI. Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. Stifel Nicolaus set a $95.00 price target on UFP Industries and gave the stock a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday, October 30th. Finally, DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and raised their target price for the stock from $110.00 to $112.00 in a research note on Friday, October 31st. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.50.

UFP Industries Trading Up 2.4%

Shares of UFPI opened at $91.47 on Friday. UFP Industries, Inc. has a 1-year low of $87.11 and a 1-year high of $141.33. The company has a market capitalization of $5.33 billion, a P/E ratio of 16.91 and a beta of 1.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The firm’s 50 day simple moving average is $92.13 and its 200 day simple moving average is $97.72.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). UFP Industries had a return on equity of 10.16% and a net margin of 5.00%.The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the company earned $1.64 EPS. UFP Industries’s quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.40 annualized dividend and a yield of 1.5%. UFP Industries’s payout ratio is 25.88%.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.