Allspring Global Investments Holdings LLC Acquires 23,905 Shares of UFP Industries, Inc. $UFPI

Allspring Global Investments Holdings LLC raised its holdings in UFP Industries, Inc. (NASDAQ:UFPI) by 2.0% in the fourth quarter, Holdings Channel reports. The fund owned 1,247,346 shares of the construction company’s stock after acquiring an additional 23,905 shares during the period. Allspring Global Investments Holdings LLC’s holdings in UFP Industries were worth $114,980,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in shares of UFP Industries by 54.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after purchasing an additional 114 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in UFP Industries by 648.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company’s stock worth $41,000 after purchasing an additional 376 shares in the last quarter. Winnow Wealth LLC bought a new stake in UFP Industries during the 3rd quarter worth approximately $51,000. EverSource Wealth Advisors LLC raised its holdings in UFP Industries by 90.9% during 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 during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in UFP Industries during the 4th quarter worth approximately $94,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Ratings Changes

UFPI has been the subject of several research analyst reports. DA Davidson reduced their price target on shares of UFP Industries from $112.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Stifel Nicolaus set a $98.00 price objective on shares of UFP Industries in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.67.

UFP Industries Trading Up 2.4%

NASDAQ:UFPI opened at $92.12 on Wednesday. The company has a market cap of $5.23 billion, a P/E ratio of 18.46 and a beta of 1.48. UFP Industries, Inc. has a twelve month low of $84.82 and a twelve month high of $118.00. The business has a 50 day moving average price of $101.50 and a two-hundred day moving average price of $96.24. The company has a quick ratio of 3.13, a current ratio of 4.59 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Monday, February 23rd. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.33). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.40 billion. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. UFP Industries’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter last year, the business earned $1.12 earnings per share. As a group, analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were paid a $0.36 dividend. 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 yield of 1.6%. The ex-dividend date was Monday, March 2nd. UFP Industries’s dividend payout ratio is 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.