Moran Wealth Management LLC Has $8.75 Million Position in UFP Industries, Inc. (NASDAQ:UFPI)

Moran Wealth Management LLC cut its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.4% during the third quarter, Holdings Channel reports. The fund owned 66,700 shares of the construction company’s stock after selling 246 shares during the quarter. Moran Wealth Management LLC’s holdings in UFP Industries were worth $8,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Jennison Associates LLC increased its holdings in shares of UFP Industries by 7.8% during the 3rd quarter. Jennison Associates LLC now owns 10,054 shares of the construction company’s stock worth $1,319,000 after acquiring an additional 727 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in UFP Industries by 4.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 118,010 shares of the construction company’s stock valued at $15,484,000 after buying an additional 4,579 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in UFP Industries in the 3rd quarter valued at $2,057,000. J. W. Coons Advisors LLC grew its holdings in UFP Industries by 5.4% in the 3rd quarter. J. W. Coons Advisors LLC now owns 3,725 shares of the construction company’s stock valued at $489,000 after buying an additional 190 shares in the last quarter. Finally, Seizert Capital Partners LLC grew its holdings in UFP Industries by 85.5% in the 3rd quarter. Seizert Capital Partners LLC now owns 34,623 shares of the construction company’s stock valued at $4,543,000 after buying an additional 15,958 shares in the last quarter. 81.81% of the stock is owned by institutional investors and hedge funds.

UFP Industries Stock Performance

NASDAQ:UFPI opened at $128.63 on Thursday. The stock has a fifty day moving average price of $130.36 and a 200-day moving average price of $122.26. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 17.69 and a beta of 1.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.31. UFP Industries, Inc. has a fifty-two week low of $107.49 and a fifty-two week high of $139.54.

UFP Industries (NASDAQ:UFPI) last released its earnings results on Monday, October 28th. The construction company reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.89 by ($0.25). UFP Industries had a net margin of 6.70% and a return on equity of 14.45%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the company posted $2.10 earnings per share. The business’s revenue was down 9.8% compared to the same quarter last year. As a group, equities analysts anticipate that UFP Industries, Inc. will post 6.89 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.32 annualized dividend and a dividend yield of 1.03%. UFP Industries’s dividend payout ratio is currently 18.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Benchmark upped their price objective on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets upped their price objective on UFP Industries from $115.00 to $125.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Stifel Nicolaus upped their price objective on UFP Industries from $125.00 to $157.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Wedbush reiterated an “outperform” rating and set a $155.00 target price on shares of UFP Industries in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.