UFP Industries, Inc. $UFPI Stake Boosted by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC boosted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 9,836.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 128,473 shares of the construction company’s stock after acquiring an additional 127,180 shares during the quarter. Laurel Wealth Advisors LLC owned approximately 0.22% of UFP Industries worth $12,765,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. XTX Topco Ltd raised its stake in UFP Industries by 54.9% during the 2nd quarter. XTX Topco Ltd now owns 30,538 shares of the construction company’s stock valued at $3,034,000 after purchasing an additional 10,821 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in UFP Industries by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 790,648 shares of the construction company’s stock valued at $78,559,000 after acquiring an additional 20,387 shares during the period. Rhumbline Advisers raised its holdings in UFP Industries by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 223,623 shares of the construction company’s stock valued at $22,219,000 after acquiring an additional 5,737 shares in the last quarter. Watchman Group Inc. lifted its position in shares of UFP Industries by 1.4% in the 2nd quarter. Watchman Group Inc. now owns 38,737 shares of the construction company’s stock worth $3,849,000 after acquiring an additional 553 shares during the period. Finally, Legal & General Group Plc grew its holdings in shares of UFP Industries by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 132,067 shares of the construction company’s stock worth $13,122,000 after purchasing an additional 1,214 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on UFPI. DA Davidson upgraded UFP Industries from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $112.00 in a research note on Friday, October 31st. Stifel Nicolaus set a $95.00 price target on UFP Industries and gave the company a “hold” rating in a research note on Wednesday, October 8th. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $113.50.

UFP Industries Stock Performance

Shares of UFP Industries stock opened at $93.53 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The firm has a 50 day simple moving average of $91.77 and a 200 day simple moving average of $97.61. UFP Industries, Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $140.04. The firm has a market cap of $5.45 billion, a P/E ratio of 17.29 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI) last announced its quarterly earnings data 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 firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a net margin of 5.00% and a return on equity of 10.16%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 earnings per share. Sell-side analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

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

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.