Sequoia Financial Advisors LLC Invests $355,000 in UFP Industries, Inc. $UFPI

Key Points

• Sequoia Financial Advisors LLC has invested $355,000 in UFP Industries, acquiring 3,577 shares during the 2nd quarter, reflecting growing institutional interest in the company.
• UFP Industries' stock has received mixed ratings from analysts, with a consensus rating of "Hold" and a target price averaging $124.25.
• In the latest quarterly earnings report, UFP Industries missed analysts' earnings estimates, reporting $1.70 EPS against a consensus of $1.95, indicating potential challenges ahead.

Sequoia Financial Advisors LLC acquired a new position in UFP Industries, Inc. (NASDAQ:UFPI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,577 shares of the construction company's stock, valued at approximately $355,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of UFPI. Boston Partners lifted its stake in UFP Industries by 118.6% in the first quarter. Boston Partners now owns 1,469,300 shares of the construction company's stock valued at $157,270,000 after purchasing an additional 797,069 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of UFP Industries by 17.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company's stock valued at $401,550,000 after buying an additional 568,741 shares during the period. Nuveen LLC purchased a new position in shares of UFP Industries during the 1st quarter valued at $18,224,000. Allspring Global Investments Holdings LLC lifted its position in shares of UFP Industries by 14.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,207,793 shares of the construction company's stock valued at $127,386,000 after buying an additional 156,180 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of UFP Industries by 414.9% during the 1st quarter. Jane Street Group LLC now owns 120,718 shares of the construction company's stock worth $12,922,000 after acquiring an additional 97,274 shares during the period. 81.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on UFPI. Zacks Research raised shares of UFP Industries from a "strong sell" rating to a "hold" rating in a report on Friday, October 17th. Stifel Nicolaus set a $95.00 price target on shares of UFP Industries and gave the company a "hold" rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of UFP Industries in a report on Wednesday, October 8th. Finally, 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 target price on the stock. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, UFP Industries presently has a consensus rating of "Hold" and a consensus target price of $124.25.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $93.26 on Wednesday. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 16.19 and a beta of 1.45. The business has a 50 day moving average of $97.18 and a 200 day moving average of $99.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. UFP Industries, Inc. has a 1-year low of $88.99 and a 1-year high of $141.33.

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

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.

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