Hardy Reed LLC Purchases New Shares in UFP Industries, Inc. $UFPI

Hardy Reed LLC purchased a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,209 shares of the construction company’s stock, valued at approximately $563,000.

A number of other institutional investors have also recently added to or reduced their stakes in UFPI. IAG Wealth Partners LLC acquired a new stake in shares of UFP Industries during the first quarter valued at about $28,000. Root Financial Partners LLC lifted its stake in shares of UFP Industries by 86.0% in the first quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock worth $29,000 after acquiring an additional 148 shares in the last quarter. Geneos Wealth Management Inc. boosted 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 last quarter. Danske Bank A S grew its stake in UFP Industries by 300.0% during the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in UFP Industries by 84.8% during the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Trading Down 1.5%

UFP Industries stock opened at $89.87 on Friday. The firm’s 50-day moving average is $87.58 and its 200-day moving average is $92.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98. UFP Industries, Inc. has a 1 year low of $77.89 and a 1 year high of $118.00. The company has a market cap of $4.96 billion, a P/E ratio of 20.61 and a beta of 1.23.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.37 by $0.11. UFP Industries had a net margin of 3.99% and a return on equity of 8.00%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.79 billion. On average, equities analysts expect that UFP Industries, Inc. will post 4.56 earnings per share for the current year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 1st. UFP Industries’s payout ratio is presently 33.03%.

Analyst Ratings Changes

A number of brokerages have issued reports on UFPI. DA Davidson cut their target price on UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Weiss Ratings upgraded shares of UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a report on Tuesday, May 5th. Zacks Research raised shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Finally, Benchmark cut their target price on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, UFP Industries currently has an average rating of “Moderate Buy” and an average price target of $103.75.

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.