Hsbc Holdings PLC Raises Holdings in UFP Industries, Inc. $UFPI

Hsbc Holdings PLC raised its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 300.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,424 shares of the construction company’s stock after purchasing an additional 16,077 shares during the period. Hsbc Holdings PLC’s holdings in UFP Industries were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geneos Wealth Management Inc. grew its position in shares of UFP Industries by 54.8% during the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after buying an additional 114 shares in the last quarter. Signaturefd LLC increased its stake in shares of UFP Industries by 66.1% during the fourth quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock worth $35,000 after buying an additional 154 shares during the period. Danske Bank A S raised its holdings in UFP Industries by 300.0% in the fourth quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. IFP Advisors Inc raised its holdings in UFP Industries by 84.8% in the fourth quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after acquiring an additional 190 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in UFP Industries by 117.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 413 shares of the construction company’s stock worth $38,000 after acquiring an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

UFP Industries Stock Performance

Shares of UFPI opened at $91.41 on Tuesday. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 19.96 and a beta of 1.24. UFP Industries, Inc. has a 52-week low of $77.89 and a 52-week high of $118.00. The company has a quick ratio of 3.07, a current ratio of 4.64 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average price of $85.69 and a 200 day moving average price of $94.09.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the business posted $1.30 EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Research analysts predict that UFP Industries, Inc. will post 4.6 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 1st. UFP Industries’s dividend payout ratio is currently 31.44%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Benchmark lowered their price target on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 1st. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. DA Davidson decreased their price objective on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Stifel Nicolaus lowered their target price on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research note on Monday, May 11th. Finally, Weiss Ratings lowered UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, UFP Industries presently has a consensus rating of “Hold” and an average price target of $105.40.

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.