Moran Wealth Management LLC Sells 26,142 Shares of UFP Industries, Inc. $UFPI

Moran Wealth Management LLC reduced its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 50.6% in the first quarter, HoldingsChannel.com reports. The fund owned 25,561 shares of the construction company’s stock after selling 26,142 shares during the quarter. Moran Wealth Management LLC’s holdings in UFP Industries were worth $2,355,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its holdings in shares of UFP Industries by 3.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,197 shares of the construction company’s stock valued at $291,000 after purchasing an additional 92 shares during the period. Arkadios Wealth Advisors grew its stake in shares of UFP Industries by 2.1% in the 4th quarter. Arkadios Wealth Advisors now owns 4,648 shares of the construction company’s stock valued at $423,000 after buying an additional 97 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after buying an additional 114 shares during the period. SkyView Investment Advisors LLC increased its position in UFP Industries by 1.3% in the 4th quarter. SkyView Investment Advisors LLC now owns 9,133 shares of the construction company’s stock valued at $832,000 after buying an additional 114 shares in the last quarter. Finally, US Bancorp DE increased its position in UFP Industries by 2.3% in the 3rd quarter. US Bancorp DE now owns 5,439 shares of the construction company’s stock valued at $508,000 after buying an additional 122 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

UFP Industries Stock Performance

Shares of UFPI opened at $89.19 on Monday. The stock has a 50 day moving average of $85.15 and a 200 day moving average of $94.02. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 19.47 and a beta of 1.22. UFP Industries, Inc. has a 12 month low of $77.89 and a 12 month high of $118.00. The company has a current ratio of 4.64, a quick ratio of 3.07 and a debt-to-equity ratio of 0.07.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.26). UFP Industries had a return on equity of 8.50% and a net margin of 4.31%.The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm posted $1.30 earnings per share. UFP Industries’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that UFP Industries, Inc. will post 4.6 earnings per share for the current year.

UFP Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were 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 was Monday, June 1st. UFP Industries’s payout ratio is currently 31.44%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UFPI. Weiss Ratings cut UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 17th. BMO Capital Markets upgraded shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target for the company in a research note on Tuesday, May 5th. Benchmark lowered their price objective on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, Stifel Nicolaus dropped their price objective on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating on the stock in a research note on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, UFP Industries has an average rating of “Hold” and a consensus target price of $105.40.

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.