UFP Industries, Inc. $UFPI Shares Acquired by Barclays PLC

Key Points

• Barclays PLC increased its stake in UFP Industries by 6.5% in Q3, acquiring 21,682 shares to hold 357,245 shares (about 0.61% of the company) valued at roughly $33.4 million.
• UFP missed quarterly expectations, reporting EPS of $0.70 versus a $1.03 consensus and revenue of $1.33 billion, down 9.0% year-over-year.
• The company raised its quarterly dividend to $0.36 (annualized $1.44) for a ~1.6% yield and a 28.9% payout ratio, while analysts maintain a consensus "Hold" rating with a $106.67 price target.

Barclays PLC lifted its position in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 357,245 shares of the construction company's stock after acquiring an additional 21,682 shares during the quarter. Barclays PLC owned 0.61% of UFP Industries worth $33,399,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of UFPI. Geneos Wealth Management Inc. grew 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 purchasing an additional 114 shares during the period. EverSource Wealth Advisors LLC lifted its position 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 valued at $54,000 after buying an additional 259 shares in the last quarter. Winnow Wealth LLC acquired a new stake in UFP Industries in the 3rd quarter valued at $51,000. L2 Asset Management LLC purchased a new stake in UFP Industries in the 2nd quarter worth $211,000. Finally, apricus wealth LLC acquired a new position in UFP Industries during the third quarter worth $214,000. Hedge funds and other institutional investors own 81.81% of the company's stock.

UFP Industries Stock Down 1.4%

NASDAQ UFPI opened at $92.09 on Wednesday. The business's fifty day simple moving average is $104.40 and its 200-day simple moving average is $97.48. The company has a quick ratio of 3.13, a current ratio of 4.59 and a debt-to-equity ratio of 0.07. The firm has a market cap of $5.21 billion, a PE ratio of 18.45 and a beta of 1.48. UFP Industries, Inc. has a 52 week low of $87.11 and a 52 week high of $118.00.

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

UFP Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.6%. This is a positive change from UFP Industries's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, March 2nd. UFP Industries's payout ratio is 28.86%.

Analyst Ratings Changes

UFPI has been the subject of a number of research reports. Weiss Ratings reissued a "hold (c-)" rating on shares of UFP Industries in a research note on Tuesday, January 27th. Zacks Research upgraded UFP Industries from a "strong sell" rating to a "hold" rating in a research note on Monday, January 19th. DA Davidson reduced their target price on UFP Industries from $112.00 to $110.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Stifel Nicolaus set a $98.00 price target on UFP Industries in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $106.67.

Insider Buying and Selling

In other news, Chairman Matthew J. Missad sold 11,000 shares of the company's stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $92.26, for a total value of $1,014,860.00. Following the transaction, the chairman owned 310,533 shares of the company's stock, valued at $28,649,774.58. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.56% of the stock is owned by corporate insiders.

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.

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