Hsbc Holdings PLC Has $348,000 Holdings in UFP Industries, Inc. $UFPI

Key Points

• Hsbc Holdings PLC reduced its stake in UFP Industries, Inc. by 87.3%, now owning only 3,245 shares valued at $348,000 after selling 22,359 shares in the 1st quarter.
• UFP Industries reported $1.70 EPS in its latest earnings release, missing estimates by $0.25, with a 3.5% year-over-year revenue decline.
• The company recently announced a quarterly dividend of $0.35, representing an annualized payout of $1.40 and a yield of 1.4%.

Hsbc Holdings PLC decreased its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 87.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,245 shares of the construction company's stock after selling 22,359 shares during the period. Hsbc Holdings PLC's holdings in UFP Industries were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in UFPI. Putney Financial Group LLC bought a new position in shares of UFP Industries during the 4th quarter valued at about $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of UFP Industries in the first quarter worth about $36,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of UFP Industries by 39.9% in the first quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company's stock worth $45,000 after buying an additional 119 shares during the period. UMB Bank n.a. boosted its holdings in shares of UFP Industries by 182.1% in the first quarter. UMB Bank n.a. now owns 567 shares of the construction company's stock worth $61,000 after buying an additional 366 shares during the period. Finally, Signaturefd LLC boosted its holdings in shares of UFP Industries by 222.5% in the first quarter. Signaturefd LLC now owns 816 shares of the construction company's stock worth $87,000 after buying an additional 563 shares during the period. Institutional investors own 81.81% of the company's stock.

UFP Industries Stock Performance

Shares of NASDAQ:UFPI traded down $2.55 during trading on Tuesday, reaching $100.05. The stock had a trading volume of 81,453 shares, compared to its average volume of 424,832. UFP Industries, Inc. has a 52 week low of $93.00 and a 52 week high of $141.33. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 17.41 and a beta of 1.47. The company has a quick ratio of 3.16, a current ratio of 4.54 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $102.54 and a two-hundred day simple moving average of $102.68.

UFP Industries (NASDAQ:UFPI - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.25). The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. UFP Industries had a return on equity of 10.95% and a net margin of 5.31%.The business's revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.4%. UFP Industries's dividend payout ratio is 24.31%.

Wall Street Analyst Weigh In

UFPI has been the subject of several research reports. Loop Capital initiated coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price target for the company. Zacks Research cut shares of UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $134.00.

UFP Industries Company Profile

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.