Moran Wealth Management LLC Has $2.35 Million Stock Holdings in UFP Industries, Inc. $UFPI

Moran Wealth Management LLC reduced its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 50.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,561 shares of the construction company’s stock after selling 26,142 shares during the quarter. Moran Wealth Management LLC’s holdings in UFP Industries were worth $2,355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UFPI. Royal Bank of Canada increased its holdings in UFP Industries by 3.0% during the first quarter. Royal Bank of Canada now owns 61,641 shares of the construction company’s stock worth $6,597,000 after buying an additional 1,798 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in UFP Industries by 8.1% in the first quarter. Integrated Wealth Concepts LLC now owns 2,959 shares of the construction company’s stock valued at $317,000 after acquiring an additional 221 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of UFP Industries by 10.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 129,209 shares of the construction company’s stock valued at $13,831,000 after acquiring an additional 12,043 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of 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 purchasing an additional 259 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of UFP Industries in the 2nd quarter valued at about $232,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on UFPI shares. Weiss Ratings cut UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. DA Davidson dropped their price objective on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Benchmark cut their price objective on UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 1st. BMO Capital Markets upgraded UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 target price for the company in a research note on Tuesday, May 5th. Finally, Zacks Research lowered UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $105.40.

UFP Industries Price Performance

UFP Industries stock opened at $89.19 on Monday. The firm has a market cap of $5.04 billion, a PE ratio of 19.47 and a beta of 1.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. The stock’s fifty day moving average price is $85.15 and its two-hundred day moving average price is $94.02. UFP Industries, Inc. has a one year low of $77.89 and a one year high of $118.00.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, April 29th. The construction company reported $0.89 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 in the previous year, the firm posted $1.30 earnings per share. UFP Industries’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, research analysts expect that UFP Industries, Inc. will post 4.6 EPS for the current fiscal year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 1st. UFP Industries’s dividend payout ratio (DPR) 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.