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

Key Points

• Moran Wealth Management cut its UFP Industries stake by 50.6% in the first quarter, leaving it with 25,561 shares valued at about $2.35 million.
• Institutional ownership remains high at 81.81%, even as some funds increased positions and others trimmed holdings in the stock.
• Analyst sentiment is mixed: the consensus rating is Hold with a price target of $105.40, while recent earnings missed estimates and the stock recently traded at $89.19.

Moran Wealth Management LLC reduced its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) 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 - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.