Locust Wood Capital Advisers LLC Makes New $772,000 Investment in UFP Industries, Inc. $UFPI

Locust Wood Capital Advisers LLC acquired a new position in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,770 shares of the construction company’s stock, valued at approximately $772,000.

A number of other large investors have also recently made changes to their positions in the company. Boston Partners lifted its holdings in UFP Industries by 118.6% during the 1st quarter. Boston Partners now owns 1,469,300 shares of the construction company’s stock worth $157,270,000 after buying an additional 797,069 shares during the last quarter. Norges Bank purchased a new position in shares of UFP Industries in the second quarter valued at $74,905,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of UFP Industries by 17.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,751,399 shares of the construction company’s stock worth $401,550,000 after purchasing an additional 568,741 shares during the last quarter. Nuveen LLC acquired a new stake in shares of UFP Industries during the 1st quarter worth about $18,224,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of UFP Industries by 14.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,207,793 shares of the construction company’s stock valued at $127,386,000 after buying an additional 156,180 shares during the period. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on UFPI shares. DA Davidson raised shares of UFP Industries from a “neutral” rating to a “buy” rating and raised their price target for the stock from $110.00 to $112.00 in a research report on Friday, October 31st. Stifel Nicolaus set a $98.00 target price on shares of UFP Industries in a research report on Tuesday. Zacks Research cut shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of UFP Industries in a report on Thursday, October 30th. Two 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.25.

UFP Industries Trading Down 0.1%

UFP Industries stock opened at $92.36 on Wednesday. UFP Industries, Inc. has a 12-month low of $87.11 and a 12-month high of $135.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.54 and a quick ratio of 3.16. The firm has a 50 day simple moving average of $91.53 and a 200-day simple moving average of $97.31. The stock has a market capitalization of $5.38 billion, a PE ratio of 17.07 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). The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.61 billion. UFP Industries had a return on equity of 10.16% and a net margin of 5.00%.The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 earnings per share. As a group, equities research analysts expect that UFP Industries, Inc. will post 7.08 EPS for the current fiscal year.

UFP Industries Announces Dividend

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

Insider Transactions at UFP Industries

In other news, Director Michael G. Wooldridge sold 1,192 shares of UFP Industries stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $93.43, for a total transaction of $111,368.56. Following the completion of the sale, the director directly owned 14,697 shares in the company, valued at $1,373,140.71. The trade was a 7.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.56% of the company’s stock.

About UFP Industries

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.