UFP Industries, Inc. $UFPI Stake Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 15.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,060,153 shares of the construction company’s stock after selling 187,193 shares during the period. Allspring Global Investments Holdings LLC owned about 1.87% of UFP Industries worth $96,622,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. D.A. Davidson & CO. lifted its position in shares of UFP Industries by 49.4% in the first quarter. D.A. Davidson & CO. now owns 6,082 shares of the construction company’s stock worth $560,000 after purchasing an additional 2,010 shares in the last quarter. State of Michigan Retirement System grew its position in UFP Industries by 1.4% during the first quarter. State of Michigan Retirement System now owns 14,000 shares of the construction company’s stock valued at $1,290,000 after purchasing an additional 200 shares in the last quarter. Principal Financial Group Inc. increased its stake in UFP Industries by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 131,045 shares of the construction company’s stock valued at $12,072,000 after buying an additional 4,806 shares during the period. Fifth Third Bancorp increased its stake in UFP Industries by 1,459.9% in the 1st quarter. Fifth Third Bancorp now owns 60,136 shares of the construction company’s stock valued at $5,540,000 after buying an additional 56,281 shares during the period. Finally, IAG Wealth Partners LLC purchased a new stake in UFP Industries in the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Stifel Nicolaus cut their price objective on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a report on Monday, May 11th. Benchmark lowered their target price on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Weiss Ratings cut UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. DA Davidson dropped their price objective on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective on the stock in a research report on Tuesday, May 5th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $105.40.

UFP Industries Stock Performance

Shares of NASDAQ UFPI opened at $85.93 on Friday. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 18.76 and a beta of 1.22. UFP Industries, Inc. has a one year low of $77.89 and a one year high of $118.00. The business has a fifty day simple moving average of $84.17 and a 200 day simple moving average of $93.47. The company has a current ratio of 4.64, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.26). The business 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 company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned $1.30 EPS. Sell-side analysts expect that UFP Industries, Inc. will post 4.57 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.7%. UFP Industries’s payout ratio is presently 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.