Massachusetts Financial Services Co. MA Lowers Holdings in UFP Industries, Inc. $UFPI

Massachusetts Financial Services Co. MA trimmed its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 44.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,097 shares of the construction company’s stock after selling 11,269 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in UFP Industries were worth $1,284,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Boston Partners boosted its holdings in UFP Industries by 2.2% in the third quarter. Boston Partners now owns 1,887,460 shares of the construction company’s stock worth $176,449,000 after acquiring an additional 39,957 shares in the last quarter. Wasatch Advisors LP boosted its holdings in UFP Industries by 5.1% in the second quarter. Wasatch Advisors LP now owns 1,408,538 shares of the construction company’s stock worth $139,952,000 after acquiring an additional 67,849 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in UFP Industries by 2.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,247,346 shares of the construction company’s stock worth $114,980,000 after acquiring an additional 23,905 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in UFP Industries by 7.6% in the third quarter. Thrivent Financial for Lutherans now owns 507,764 shares of the construction company’s stock worth $47,471,000 after acquiring an additional 35,920 shares in the last quarter. Finally, Deprince Race & Zollo Inc. bought a new stake in UFP Industries in the third quarter worth $41,962,000. 81.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on UFPI shares. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. DA Davidson cut their price target on shares of UFP Industries from $112.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.67.

UFP Industries Trading Up 3.9%

NASDAQ:UFPI opened at $95.76 on Friday. The company’s 50 day moving average price is $97.97 and its 200-day moving average price is $96.05. UFP Industries, Inc. has a 52 week low of $84.82 and a 52 week high of $118.00. The company has a quick ratio of 3.13, a current ratio of 4.59 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 19.19 and a beta of 1.44.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, February 23rd. The construction company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.33). UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. On average, equities research analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.36 per share. The ex-dividend date was Monday, March 2nd. This is a positive change from UFP Industries’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.5%. UFP Industries’s dividend payout ratio is currently 28.86%.

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.