UFP Industries, Inc. (NASDAQ:UFPI) Stock Holdings Lowered by Cadence Bank

Cadence Bank trimmed its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,994 shares of the construction company’s stock after selling 139 shares during the period. Cadence Bank’s holdings in UFP Industries were worth $2,140,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in shares of UFP Industries by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock valued at $82,847,000 after acquiring an additional 60,859 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of UFP Industries by 3.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company’s stock worth $102,158,000 after purchasing an additional 31,381 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of UFP Industries by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock valued at $213,000 after purchasing an additional 97 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock valued at $169,675,000 after purchasing an additional 188,969 shares during the period. Finally, Argent Capital Management LLC increased its stake in UFP Industries by 35.8% in the 4th quarter. Argent Capital Management LLC now owns 12,306 shares of the construction company’s stock worth $1,386,000 after purchasing an additional 3,241 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on UFPI shares. StockNews.com lowered shares of UFP Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Benchmark restated a “buy” rating and set a $135.00 price target on shares of UFP Industries in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, UFP Industries currently has an average rating of “Moderate Buy” and an average target price of $143.00.

UFP Industries Trading Up 1.2 %

Shares of NASDAQ UFPI opened at $104.78 on Friday. The company has a current ratio of 4.88, a quick ratio of 3.25 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a one year low of $99.42 and a one year high of $141.33. The business has a 50-day moving average price of $107.97 and a two-hundred day moving average price of $118.83. The firm has a market capitalization of $6.37 billion, a PE ratio of 15.48 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.04). The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. UFP Industries had a return on equity of 13.24% and a net margin of 6.23%. As a group, analysts predict that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.35 dividend. The ex-dividend date was Monday, March 3rd. This is an increase from UFP Industries’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.34%. UFP Industries’s dividend payout ratio is 20.68%.

About UFP Industries

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.