Allspring Global Investments Holdings LLC Has $114.98 Million Stock Holdings in UFP Industries, Inc. $UFPI

Key Points

• Allspring Global Investments increased its stake in UFP Industries by 2.0% to 1,247,346 shares, holding about $114.98 million or roughly 2.14% of the company.
• UFP missed quarterly expectations, reporting $0.70 EPS versus $1.03 expected and revenue of $1.33 billion (down 9% year-over-year); analysts' consensus is an average "Hold" rating with a $106.67 price target.
• UFP raised its quarterly dividend to $0.36 (annualized $1.44), implying a yield of about 1.6% and a payout ratio near 28.9%.

Allspring Global Investments Holdings LLC raised its position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 2.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,247,346 shares of the construction company's stock after buying an additional 23,905 shares during the period. Allspring Global Investments Holdings LLC owned about 2.14% of UFP Industries worth $114,980,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its holdings in UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company's stock valued at $32,000 after acquiring an additional 114 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in UFP Industries by 648.3% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company's stock worth $41,000 after purchasing an additional 376 shares during the last quarter. Winnow Wealth LLC bought a new stake in UFP Industries during the 3rd quarter worth about $51,000. EverSource Wealth Advisors LLC lifted its position in UFP Industries by 90.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 544 shares of the construction company's stock valued at $54,000 after purchasing an additional 259 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of UFP Industries in the 4th quarter valued at about $94,000. 81.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on UFPI shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of UFP Industries in a research report on Tuesday, January 27th. Zacks Research lowered shares of UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 17th. Stifel Nicolaus set a $98.00 target price on shares of UFP Industries in a report on Tuesday, December 2nd. Finally, DA Davidson dropped their target price on shares of UFP Industries from $112.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $106.67.

UFP Industries Price Performance

UFP Industries stock opened at $92.12 on Wednesday. The firm has a market capitalization of $5.23 billion, a P/E ratio of 18.46 and a beta of 1.48. UFP Industries, Inc. has a 1 year low of $84.82 and a 1 year high of $118.00. The business has a 50-day moving average of $101.50 and a 200-day moving average of $96.24. The company has a current ratio of 4.59, a quick ratio of 3.13 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.03 by ($0.33). UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The business's revenue was down 9.0% on a year-over-year basis. On average, equities analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.6%. This is a boost from UFP Industries's previous quarterly dividend of $0.35. The ex-dividend date was Monday, March 2nd. UFP Industries's dividend payout ratio (DPR) is 28.86%.

UFP Industries 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.

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