Henrickson Nauta Wealth Advisors Inc. Cuts Position in UFP Industries, Inc. $UFPI

Henrickson Nauta Wealth Advisors Inc. decreased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 54.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,518 shares of the construction company’s stock after selling 27,863 shares during the period. UFP Industries accounts for 0.6% of Henrickson Nauta Wealth Advisors Inc.’s portfolio, making the stock its 18th largest position. Henrickson Nauta Wealth Advisors Inc.’s holdings in UFP Industries were worth $2,166,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its stake in shares of UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after buying an additional 114 shares during the last quarter. Signaturefd LLC raised its stake in UFP Industries by 66.1% during the fourth quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock valued at $35,000 after buying an additional 154 shares during the last quarter. Danske Bank A S raised its stake in UFP Industries by 300.0% during the fourth quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after buying an additional 300 shares during the last quarter. IFP Advisors Inc boosted its holdings in UFP Industries by 84.8% in the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock worth $38,000 after acquiring an additional 190 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in UFP Industries by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock worth $38,000 after acquiring an additional 223 shares in the last quarter. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UFPI. Benchmark dropped their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Stifel Nicolaus decreased their price objective on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a report on Monday, May 11th. Zacks Research downgraded UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. DA Davidson reduced their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, Weiss Ratings downgraded UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $105.40.

UFP Industries Price Performance

Shares of NASDAQ:UFPI opened at $86.58 on Monday. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.89 billion, a PE ratio of 18.90 and a beta of 1.24. The firm’s 50 day moving average price is $86.36 and its 200-day moving average price is $94.15. UFP Industries, Inc. has a twelve month low of $77.89 and a twelve month high of $118.00.

UFP Industries (NASDAQ:UFPI) last announced its earnings results on Wednesday, April 29th. The construction company reported $0.89 EPS 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 for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the prior year, the company posted $1.30 earnings per share. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. Equities research analysts expect that UFP Industries, Inc. will post 4.6 EPS for the current year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.36 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.7%. UFP Industries’s dividend payout ratio is presently 31.44%.

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.