Hsbc Holdings PLC Boosts Stake in UFP Industries, Inc. $UFPI

Hsbc Holdings PLC raised its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 300.7% during the 4th quarter, Holdings Channel reports. The fund 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 SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in UFPI. Rockefeller Capital Management L.P. boosted its position in UFP Industries by 101.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,063 shares of the construction company’s stock valued at $188,000 after purchasing an additional 1,037 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in UFP Industries by 222.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,210 shares of the construction company’s stock worth $110,000 after purchasing an additional 835 shares in the last quarter. River Road Asset Management LLC raised its holdings in UFP Industries by 64.1% in the fourth quarter. River Road Asset Management LLC now owns 879,935 shares of the construction company’s stock worth $80,118,000 after purchasing an additional 343,830 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of UFP Industries during the fourth quarter valued at about $334,000. Finally, Cambient Family Office LLC bought a new stake in shares of UFP Industries in the 4th quarter valued at about $844,000. 81.81% of the stock is currently owned by hedge funds and other institutional investors.

UFP Industries Stock Performance

NASDAQ:UFPI traded up $1.81 during trading hours on Friday, hitting $84.82. 391,024 shares of the company were exchanged, compared to its average volume of 512,404. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 18.52 and a beta of 1.22. UFP Industries, Inc. has a 52-week low of $77.89 and a 52-week high of $118.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.07. The company’s 50 day moving average price is $84.09 and its 200-day moving average price is $93.70.

UFP Industries (NASDAQ:UFPI) last announced 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 net margin of 4.31% and a return on equity of 8.50%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the firm earned $1.30 earnings per share. UFP Industries’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, research analysts forecast that UFP Industries, Inc. will post 4.6 earnings per share for the current year.

UFP Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.44 dividend on an annualized basis and a yield of 1.7%. UFP Industries’s payout ratio is currently 31.44%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. DA Davidson cut their price objective on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Stifel Nicolaus decreased 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 report on Monday, May 11th. Weiss Ratings downgraded shares of UFP Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Finally, BMO Capital Markets raised UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price target on the stock in a research report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.