Allspring Global Investments Holdings LLC Has $96.62 Million Position in UFP Industries, Inc. $UFPI

Allspring Global Investments Holdings LLC trimmed its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 15.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,060,153 shares of the construction company’s stock after selling 187,193 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in UFP Industries were worth $96,622,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of UFPI. SG Americas Securities LLC lifted its holdings 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 period. Flagship Capital Management Inc. bought a new position in UFP Industries during the 4th quarter worth approximately $1,550,000. Horizon Investments LLC bought a new position in shares of UFP Industries during the fourth quarter worth $1,120,000. K.J. Harrison & Partners Inc bought a new position in shares of UFP Industries during the fourth quarter worth $1,093,000. Finally, Vanguard Group Inc. grew its holdings in shares of UFP Industries by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,117,218 shares of the construction company’s stock valued at $556,973,000 after buying an additional 17,016 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Trading Down 3.4%

Shares of UFP Industries stock opened at $85.93 on Friday. The business’s 50 day moving average is $84.17 and its 200-day moving average is $93.47. UFP Industries, Inc. has a 12-month low of $77.89 and a 12-month high of $118.00. The stock has a market cap of $4.85 billion, a P/E ratio of 18.76 and a beta of 1.22. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.26). UFP Industries had a net margin of 4.31% and a return on equity of 8.50%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the business posted $1.30 earnings per share. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts predict that UFP Industries, Inc. will post 4.57 earnings per share for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently disclosed 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 yield of 1.7%. UFP Industries’s dividend payout ratio is currently 31.44%.

Analyst Upgrades and Downgrades

UFPI has been the subject of a number of research analyst reports. Benchmark decreased their target price on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 1st. DA Davidson cut their price objective on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Stifel Nicolaus decreased their price objective on UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Weiss Ratings cut UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Finally, BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a report on Tuesday, May 5th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $105.40.

UFP Industries Company Profile

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.