Hsbc Holdings PLC Raises Stake in UFP Industries, Inc. $UFPI

Hsbc Holdings PLC grew its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 300.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,424 shares of the construction company’s stock after acquiring an additional 16,077 shares during the quarter. Hsbc Holdings PLC’s holdings in UFP Industries were worth $1,959,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of UFPI. Allspring Global Investments Holdings LLC grew its holdings in shares of UFP Industries by 2.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,247,346 shares of the construction company’s stock worth $114,980,000 after purchasing an additional 23,905 shares during the period. Numerai GP LLC purchased a new stake in UFP Industries in the 3rd quarter valued at about $3,562,000. SG Americas Securities LLC lifted its position in UFP Industries by 454.4% in the fourth quarter. SG Americas Securities LLC now owns 21,499 shares of the construction company’s stock valued at $1,957,000 after buying an additional 17,621 shares during the last quarter. Flagship Capital Management Inc. acquired a new position in UFP Industries in the fourth quarter valued at about $1,550,000. Finally, Horizon Investments LLC purchased a new position in UFP Industries during the fourth quarter worth about $1,120,000. Institutional investors and hedge funds own 81.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on UFPI shares. Weiss Ratings cut shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 2nd. Stifel Nicolaus lowered their price objective on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Benchmark dropped their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. 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. Finally, Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $105.40.

UFP Industries Stock Down 0.9%

Shares of UFPI opened at $91.41 on Tuesday. The company’s 50-day simple moving average is $85.69 and its 200-day simple moving average is $94.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.07 and a current ratio of 4.64. UFP Industries, Inc. has a 1 year low of $77.89 and a 1 year high of $118.00. The stock has a market capitalization of $5.16 billion, a PE ratio of 19.96 and a beta of 1.24.

UFP Industries (NASDAQ:UFPI) last announced 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 net margin of 4.31% and a return on equity of 8.50%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the firm posted $1.30 EPS. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. Analysts forecast that UFP Industries, Inc. will post 4.6 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.36 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.44 annualized dividend and a dividend yield of 1.6%. UFP Industries’s payout ratio is 31.44%.

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.