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

Legal & General Group Plc grew its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 132,067 shares of the construction company’s stock after purchasing an additional 1,214 shares during the period. Legal & General Group Plc owned approximately 0.23% of UFP Industries worth $13,122,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. State of Wyoming grew its holdings in UFP Industries by 8.4% during the first quarter. State of Wyoming now owns 1,294 shares of the construction company’s stock worth $139,000 after acquiring an additional 100 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of UFP Industries by 24.5% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 519 shares of the construction company’s stock worth $52,000 after purchasing an additional 102 shares in the last quarter. Vista Finance LLC grew its stake in shares of UFP Industries by 4.1% during the 2nd quarter. Vista Finance LLC now owns 2,671 shares of the construction company’s stock worth $265,000 after purchasing an additional 104 shares during the period. Great Lakes Advisors LLC increased its holdings in shares of UFP Industries by 0.5% in the 1st quarter. Great Lakes Advisors LLC now owns 21,105 shares of the construction company’s stock valued at $2,259,000 after purchasing an additional 105 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in shares of UFP Industries by 2.9% in the second quarter. Arkadios Wealth Advisors now owns 4,393 shares of the construction company’s stock valued at $437,000 after purchasing an additional 123 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

UFPI has been the topic of several recent analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a research report on Thursday, October 30th. DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $112.00 in a report on Friday, October 31st. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. Finally, Stifel Nicolaus set a $95.00 target price on UFP Industries and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, UFP Industries has a consensus rating of “Hold” and a consensus price target of $113.50.

UFP Industries Trading Down 0.6%

Shares of UFPI opened at $92.99 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. UFP Industries, Inc. has a 1-year low of $87.11 and a 1-year high of $137.35. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 17.19 and a beta of 1.43. The firm has a 50 day simple moving average of $91.63 and a 200-day simple moving average of $97.47.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Wednesday, October 29th. The construction company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.16%. UFP Industries’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 EPS. Equities analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. UFP Industries’s dividend payout ratio (DPR) is presently 25.88%.

About UFP Industries

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.