JPMorgan Chase & Co. Has $50.12 Million Holdings in UFP Industries, Inc. $UFPI

JPMorgan Chase & Co. decreased its position in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 7.3% in the 2nd quarter, Holdings Channel reports. The firm owned 504,398 shares of the construction company’s stock after selling 39,654 shares during the quarter. JPMorgan Chase & Co.’s holdings in UFP Industries were worth $50,117,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UFPI. Caitong International Asset Management Co. Ltd boosted its stake in shares of UFP Industries by 39.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock valued at $45,000 after purchasing an additional 119 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in UFP Industries in the second quarter valued at $59,000. Covestor Ltd boosted its position in UFP Industries by 20.4% during the first quarter. Covestor Ltd now owns 886 shares of the construction company’s stock valued at $94,000 after acquiring an additional 150 shares during the last quarter. AlphaQuest LLC acquired a new stake in UFP Industries during the 2nd quarter worth about $91,000. Finally, State of Wyoming grew its holdings in UFP Industries by 8.4% during the 1st quarter. State of Wyoming now owns 1,294 shares of the construction company’s stock worth $139,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Trading Down 0.6%

Shares of UFP Industries stock opened at $92.99 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.16 and a current ratio of 4.54. UFP Industries, Inc. has a 52 week low of $87.11 and a 52 week high of $137.35. The stock has a 50 day moving average price of $91.63 and a two-hundred day moving average price of $97.44. The stock has a market capitalization of $5.42 billion, a PE ratio of 17.19 and a beta of 1.43.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Wednesday, October 29th. The construction company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.08). UFP Industries had a return on equity of 10.16% and a net margin of 5.00%.The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned $1.64 earnings per share. UFP Industries’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, December 1st. UFP Industries’s dividend payout ratio (DPR) is currently 25.88%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a research note on Thursday, October 30th. DA Davidson raised UFP Industries from a “neutral” rating to a “buy” rating and boosted their price target for the company from $110.00 to $112.00 in a research note on Friday, October 31st. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. Finally, Stifel Nicolaus set a $95.00 price objective on shares of UFP Industries and gave the company a “hold” rating in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.50.

UFP Industries Company 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.