UFP Industries, Inc. $UFPI Shares Sold by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB trimmed its holding in UFP Industries by 13.3% in Q4, selling 15,228 shares and leaving it with 99,317 shares worth about $9.11 million.
• UFP missed Q results, reporting $0.70 EPS vs. $1.03 expected and revenue of $1.33 billion (down 9% YoY); the stock carries a consensus Hold rating with an average target of $106.67.
• The company raised its quarterly dividend to $0.36 (annualized $1.44), implying a yield of about 1.6%, up from the prior $0.35 quarterly payout.

Nordea Investment Management AB lessened its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI - Free Report) by 13.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 99,317 shares of the construction company's stock after selling 15,228 shares during the quarter. Nordea Investment Management AB owned about 0.17% of UFP Industries worth $9,111,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Geneos Wealth Management Inc. lifted 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 worth $32,000 after purchasing an additional 114 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in UFP Industries by 648.3% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 434 shares of the construction company's stock valued at $41,000 after buying an additional 376 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in 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 during the period. Winnow Wealth LLC acquired a new position in UFP Industries during the 3rd quarter valued at about $51,000. Finally, NewEdge Advisors LLC raised its position in shares of UFP Industries by 2,951.5% during the 3rd quarter. NewEdge Advisors LLC now owns 1,007 shares of the construction company's stock worth $94,000 after buying an additional 974 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UFPI. Zacks Research lowered shares of UFP Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 17th. Weiss Ratings reissued a "hold (c-)" rating on shares of UFP Industries in a report on Tuesday, January 27th. Stifel Nicolaus set a $98.00 target price on UFP Industries in a research report on Tuesday, December 2nd. Finally, DA Davidson decreased their price target on UFP Industries from $112.00 to $110.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, UFP Industries has a consensus rating of "Hold" and an average target price of $106.67.

UFP Industries Price Performance

UFPI stock opened at $92.00 on Thursday. The company has a current ratio of 4.59, a quick ratio of 3.13 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a one year low of $84.82 and a one year high of $118.00. The firm has a market capitalization of $5.23 billion, a PE ratio of 18.44 and a beta of 1.48. The firm has a 50-day moving average of $102.83 and a two-hundred day moving average of $96.55.

UFP Industries (NASDAQ:UFPI - Get Free Report) last released its earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share 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 during the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the business earned $1.12 earnings per share. The business's revenue was down 9.0% on a year-over-year basis. On average, analysts forecast that UFP Industries, Inc. will post 7.08 earnings per share for the current year.

UFP Industries Increases Dividend

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

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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