Bryn Mawr Trust Advisors LLC Takes Position in UFP Industries, Inc. $UFPI

Bryn Mawr Trust Advisors LLC acquired a new position in UFP Industries, Inc. (NASDAQ:UFPI) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,037 shares of the construction company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its stake in shares of UFP Industries by 10.2% in the 2nd quarter. Allianz Asset Management GmbH now owns 249,261 shares of the construction company’s stock valued at $24,767,000 after acquiring an additional 23,152 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in UFP Industries by 4.4% in the second quarter. Mutual of America Capital Management LLC now owns 166,340 shares of the construction company’s stock worth $16,528,000 after purchasing an additional 7,063 shares during the period. Nordea Investment Management AB grew its holdings in UFP Industries by 0.7% in the second quarter. Nordea Investment Management AB now owns 111,584 shares of the construction company’s stock worth $11,094,000 after purchasing an additional 759 shares during the period. World Investment Advisors bought a new stake in UFP Industries in the second quarter valued at $394,000. Finally, XTX Topco Ltd raised its holdings in shares of UFP Industries by 548.2% during the first quarter. XTX Topco Ltd now owns 19,717 shares of the construction company’s stock valued at $2,111,000 after purchasing an additional 16,675 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Trading Down 0.4%

NASDAQ UFPI opened at $92.00 on Monday. 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 business has a fifty day simple moving average of $94.31 and a 200 day simple moving average of $98.55. UFP Industries, Inc. has a 12 month low of $88.78 and a 12 month high of $141.33. The firm has a market capitalization of $5.39 billion, a P/E ratio of 17.01 and a beta of 1.43.

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

UFP Industries Announces Dividend

The firm 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 $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, December 1st. UFP Industries’s payout ratio is presently 25.88%.

Analyst Ratings Changes

Several brokerages have recently commented on UFPI. Zacks Research upgraded UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, October 17th. Loop Capital started coverage on UFP Industries in a research note on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price objective for the company. DA Davidson raised UFP Industries from a “neutral” rating to a “buy” rating and upped their target price for the stock from $110.00 to $112.00 in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th. Finally, Stifel Nicolaus set a $95.00 price target on shares of UFP Industries and gave the company a “hold” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, UFP Industries presently has a consensus rating of “Hold” and a consensus target price of $113.50.

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.