Moran Wealth Management LLC Has $5.60 Million Stock Position in UFP Industries, Inc. $UFPI

Moran Wealth Management LLC lowered its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 7.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 56,381 shares of the construction company’s stock after selling 4,374 shares during the quarter. Moran Wealth Management LLC’s holdings in UFP Industries were worth $5,602,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of UFP Industries by 107.5% during the first quarter. GAMMA Investing LLC now owns 1,500 shares of the construction company’s stock valued at $161,000 after purchasing an additional 777 shares during the period. KBC Group NV raised its holdings in shares of UFP Industries by 15.8% during the first quarter. KBC Group NV now owns 2,836 shares of the construction company’s stock valued at $304,000 after purchasing an additional 386 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of UFP Industries during the first quarter valued at about $1,534,000. Park Avenue Securities LLC raised its holdings in shares of UFP Industries by 6.5% during the first quarter. Park Avenue Securities LLC now owns 2,221 shares of the construction company’s stock valued at $238,000 after purchasing an additional 136 shares during the period. Finally, State of Alaska Department of Revenue raised its holdings in shares of UFP Industries by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 7,115 shares of the construction company’s stock valued at $761,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Trading Up 1.9%

Shares of UFPI stock opened at $91.98 on Wednesday. UFP Industries, Inc. has a 52-week low of $88.99 and a 52-week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. The company has a 50-day simple moving average of $97.99 and a two-hundred day simple moving average of $100.36. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 15.97 and a beta of 1.45.

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

UFP Industries Announces Dividend

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

Analyst Ratings Changes

UFPI has been the subject of several recent research reports. Loop Capital initiated coverage on shares of UFP Industries in a research report on Wednesday, July 23rd. They set a “hold” rating and a $112.00 target price for the company. Zacks Research downgraded shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 19th. Weiss Ratings reissued a “hold (c)” rating on shares of UFP Industries in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $95.00 target price on shares of UFP Industries and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $124.25.

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.