Squarepoint Ops LLC Makes New Investment in UFP Industries, Inc. $UFPI

Squarepoint Ops LLC acquired a new position in UFP Industries, Inc. (NASDAQ:UFPI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 81,393 shares of the construction company’s stock, valued at approximately $8,087,000. Squarepoint Ops LLC owned about 0.14% of UFP Industries as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in UFPI. Norges Bank bought a new stake in UFP Industries in the second quarter worth $74,905,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of UFP Industries by 17.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company’s stock worth $401,550,000 after buying an additional 568,741 shares during the period. Boston Partners increased its holdings in shares of UFP Industries by 25.7% in the second quarter. Boston Partners now owns 1,847,503 shares of the construction company’s stock worth $183,569,000 after buying an additional 378,203 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of UFP Industries in the 2nd quarter valued at about $20,151,000. Finally, Nuveen LLC purchased a new stake in UFP Industries during the 1st quarter valued at about $18,224,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on UFPI shares. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th. DA Davidson raised shares of UFP Industries from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $112.00 in a research note on Friday, October 31st. Finally, Stifel Nicolaus set a $98.00 price target on shares of UFP Industries in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $114.25.

UFP Industries Price Performance

UFPI opened at $92.31 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.49. The stock has a market capitalization of $5.38 billion, a PE ratio of 17.06 and a beta of 1.49. The stock’s 50 day moving average price is $91.26 and its 200-day moving average price is $96.88. UFP Industries, Inc. has a 52-week low of $87.11 and a 52-week high of $127.76.

UFP Industries (NASDAQ:UFPI) last announced 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). The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.61 billion. UFP Industries had a return on equity of 10.18% and a net margin of 5.00%.The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 EPS. On average, equities research analysts predict that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.5%. UFP Industries’s payout ratio is presently 25.88%.

Insider Transactions at UFP Industries

In other UFP Industries news, Chairman Matthew J. Missad sold 11,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $92.26, for a total value of $1,014,860.00. Following the completion of the sale, the chairman directly owned 310,533 shares in the company, valued at $28,649,774.58. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael G. Wooldridge sold 1,192 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total value of $111,368.56. Following the transaction, the director owned 14,697 shares in the company, valued at $1,373,140.71. This trade represents a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.56% of the company’s stock.

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.