Cadence Bank Buys 827 Shares of UFP Industries, Inc. $UFPI

Cadence Bank increased its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 4.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,821 shares of the construction company’s stock after buying an additional 827 shares during the period. Cadence Bank’s holdings in UFP Industries were worth $2,122,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of UFP Industries by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,917,463 shares of the construction company’s stock worth $205,237,000 after purchasing an additional 25,903 shares in the last quarter. Boston Partners raised its position in shares of UFP Industries by 118.6% in the first quarter. Boston Partners now owns 1,469,300 shares of the construction company’s stock valued at $157,270,000 after purchasing an additional 797,069 shares during the period. Northern Trust Corp raised its position in shares of UFP Industries by 1.6% in the first quarter. Northern Trust Corp now owns 1,129,244 shares of the construction company’s stock valued at $120,874,000 after purchasing an additional 18,097 shares during the period. Allspring Global Investments Holdings LLC grew its stake in UFP Industries by 14.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,051,613 shares of the construction company’s stock valued at $112,112,000 after acquiring an additional 132,595 shares in the last quarter. Finally, Royce & Associates LP grew its stake in UFP Industries by 10.9% during the first quarter. Royce & Associates LP now owns 697,311 shares of the construction company’s stock valued at $74,640,000 after acquiring an additional 68,742 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Zacks Research cut shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Loop Capital initiated coverage on shares of UFP Industries in a research note on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $134.00.

UFP Industries Stock Up 7.5%

Shares of UFP Industries stock opened at $107.08 on Friday. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $101.56 and its two-hundred day simple moving average is $103.76. The company has a market cap of $6.27 billion, a P/E ratio of 18.59 and a beta of 1.43. UFP Industries, Inc. has a 12-month low of $93.00 and a 12-month high of $141.33.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.25). The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.85 billion. UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. Research analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. UFP Industries’s dividend payout ratio is currently 24.31%.

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.