15 Best Lumber Stocks To Buy Now

06. UFP Industries, Inc. (NASDAQ:UFPI)

Number of Hedge Fund Holders: 21

UFP Industries, Inc. (NASDAQ:UFPI), along with its subsidiaries, designs, manufactures, and markets wood and non-wood composites, as well as other materials across North America, Europe, Asia, and Australia. The company operates through three segments: Retail, Packaging, and Construction. UFP Industries, Inc. (NASDAQ:UFPI) offers a forward dividend yield of 1.02% with an annual payout of $1.32, and maintains a payout ratio of 14.68%. Over the past five years, the dividend growth rate has been 28.47%, with 11 consecutive years of dividend growth. The forward P/E ratio (Non-GAAP) stands at 16.86. Year-to-date, the company has achieved a price return of 1.20%, compared to the S&P 500’s 14.54%.

Over the past five years, UFP Industries, Inc. (NASDAQ:UFPI) experienced significant revenue growth from $4,416.0 million in 2019 to $9,626.7 million in 2022. However, revenue dropped by 25.0% to $7,218.4 million in 2023 due to lower selling prices and reduced organic unit sales, particularly in the construction segment, which saw a 31% decline. Despite the 2023 downturn, the company showed strong growth from 2019 to 2022. In the latest earnings report announced on April 30, UFP Industries, Inc. (NASDAQ:UFPI) reported normalized and GAAP earnings per share of $1.96, surpassing expectations by $0.30. The company achieved actual revenue of $1.64 billion, though this figure missed projections by $68.20 million.

In Q1 2024, the count of hedge funds holding stakes in UFP Industries, Inc. (NASDAQ:UFPI) grew to 21 from 18 in the previous quarter, based on Insider Monkey’s database of 920 hedge funds. These stakes collectively amount to around $255.62 million in value.