Legal & General Group Plc Cuts Position in UFP Industries, Inc. $UFPI

Legal & General Group Plc decreased its position in UFP Industries, Inc. (NASDAQ:UFPI) by 20.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,130 shares of the construction company’s stock after selling 24,694 shares during the quarter. Legal & General Group Plc owned 0.17% of UFP Industries worth $8,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada increased its position in UFP Industries by 3.0% in the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock worth $6,597,000 after purchasing an additional 1,798 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in UFP Industries by 8.1% during the first quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock valued at $317,000 after purchasing an additional 221 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of UFP Industries by 10.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock worth $13,831,000 after buying an additional 12,043 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of UFP Industries by 90.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company’s stock worth $54,000 after buying an additional 259 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of UFP Industries in the 2nd quarter worth about $232,000. 81.81% of the stock is owned by hedge funds and other institutional investors.

UFP Industries Price Performance

UFPI stock opened at $80.22 on Friday. The stock has a market cap of $4.53 billion, a PE ratio of 17.52 and a beta of 1.24. UFP Industries, Inc. has a 12 month low of $77.89 and a 12 month high of $118.00. The company has a 50-day moving average price of $87.94 and a 200 day moving average price of $94.70. 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 posted its quarterly earnings data on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the company earned $1.30 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities research analysts anticipate that UFP Industries, Inc. will post 4.6 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, June 1st. UFP Industries’s dividend payout ratio (DPR) is currently 31.44%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Benchmark decreased their price objective on UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. DA Davidson lowered their price objective on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company 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 report on Tuesday. Finally, BMO Capital Markets raised UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price 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 issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $105.40.

About UFP Industries

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.