JPMorgan Chase & Co. Has $46.25 Million Stock Position in UFP Industries, Inc. $UFPI

JPMorgan Chase & Co. cut its position in UFP Industries, Inc. (NASDAQ:UFPI) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 494,721 shares of the construction company’s stock after selling 9,677 shares during the period. JPMorgan Chase & Co.’s holdings in UFP Industries were worth $46,252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners boosted its holdings in UFP Industries by 25.7% in the second quarter. Boston Partners now owns 1,847,503 shares of the construction company’s stock worth $183,569,000 after acquiring an additional 378,203 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of UFP Industries by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,594,161 shares of the construction company’s stock worth $158,413,000 after purchasing an additional 37,534 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of UFP Industries by 5.1% in the 2nd quarter. Wasatch Advisors LP now owns 1,408,538 shares of the construction company’s stock worth $139,952,000 after purchasing an additional 67,849 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in UFP Industries by 1.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,223,441 shares of the construction company’s stock valued at $113,743,000 after purchasing an additional 15,648 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in UFP Industries by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 790,648 shares of the construction company’s stock worth $78,559,000 after buying an additional 20,387 shares during the last quarter. 81.81% of the stock is owned by institutional investors.

UFP Industries Trading Up 0.4%

Shares of UFP Industries stock opened at $105.04 on Friday. The firm has a market cap of $6.12 billion, a PE ratio of 21.05 and a beta of 1.49. UFP Industries, Inc. has a 1 year low of $87.11 and a 1 year high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.59 and a quick ratio of 3.23. The stock has a fifty day moving average price of $103.62 and a 200-day moving average price of $97.82.

UFP Industries (NASDAQ:UFPI) last posted its quarterly 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). The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.40 billion. UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. UFP Industries’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. Equities research analysts anticipate that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders 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 dividend yield of 1.4%. The ex-dividend date is Monday, March 2nd. This is an increase from UFP Industries’s previous quarterly dividend of $0.35. UFP Industries’s dividend payout ratio (DPR) is 25.88%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UFPI. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Stifel Nicolaus set a $98.00 price target on UFP Industries in a research note on Tuesday, December 2nd. DA Davidson reissued a “buy” rating and issued a $112.00 price objective on shares of UFP Industries in a research note on Tuesday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, UFP Industries presently has an average rating of “Hold” and an average target price of $107.33.

Insider Activity at UFP Industries

In related news, Chairman Matthew J. Missad sold 11,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $28,649,774.58. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.56% of the company’s stock.

About UFP Industries

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.