Moran Wealth Management LLC Sells 4,374 Shares of UFP Industries, Inc. $UFPI

Key Points

• Moran Wealth Management LLC reduced its stake in UFP Industries, Inc. by 7.2%, selling 4,374 shares during the second quarter, which now represents about 0.09% of the company's stock worth $5,602,000.
• Institutional investors now own 81.81% of UFP Industries, with several hedge funds increasing their stakes significantly, including Boston Partners which grew its stake by 118.6%.
• UFP Industries reported earnings of $1.70 EPS for the last quarter, missing estimates by $0.25, and its quarterly revenue decreased by 3.5% year-over-year.

Moran Wealth Management LLC lessened its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 7.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,381 shares of the construction company's stock after selling 4,374 shares during the quarter. Moran Wealth Management LLC owned approximately 0.09% of UFP Industries worth $5,602,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of UFP Industries by 17.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company's stock worth $401,550,000 after buying an additional 568,741 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of UFP Industries by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,917,463 shares of the construction company's stock worth $205,237,000 after buying an additional 25,903 shares during the last quarter. Boston Partners grew its stake in shares of UFP Industries by 118.6% during the first quarter. Boston Partners now owns 1,469,300 shares of the construction company's stock worth $157,270,000 after buying an additional 797,069 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of UFP Industries by 14.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,207,793 shares of the construction company's stock worth $127,386,000 after buying an additional 156,180 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of UFP Industries by 1.6% during the first quarter. Northern Trust Corp now owns 1,129,244 shares of the construction company's stock worth $120,874,000 after buying an additional 18,097 shares during the last quarter. Institutional investors own 81.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on UFPI. Weiss Ratings reiterated a "hold (c)" rating on shares of UFP Industries in a report on Wednesday, October 8th. Zacks Research lowered shares of UFP Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 19th. Stifel Nicolaus set a $95.00 price target on shares of UFP Industries and gave the stock a "hold" rating in a report on Wednesday, October 8th. Finally, Loop Capital began coverage on shares of UFP Industries in a report on Wednesday, July 23rd. They set a "hold" rating and a $112.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, UFP Industries has an average rating of "Hold" and a consensus target price of $124.25.

UFP Industries Price Performance

UFPI stock opened at $91.98 on Wednesday. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 15.97 and a beta of 1.45. The company has a quick ratio of 3.16, a current ratio of 4.54 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12-month low of $88.99 and a 12-month high of $141.33. The company's fifty day simple moving average is $97.99 and its 200 day simple moving average is $100.36.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its 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 firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.85 billion. UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. UFP Industries's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 EPS. On average, analysts expect that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were issued a $0.35 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.40 annualized dividend and a yield of 1.5%. UFP Industries's payout ratio is presently 24.31%.

UFP Industries 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.

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