Hancock Whitney Corp Sells 2,061 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Hancock Whitney Corp reduced its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 41.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,959 shares of the construction company’s stock after selling 2,061 shares during the period. Hancock Whitney Corp’s holdings in UFP Industries were worth $331,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of UFP Industries by 0.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,224,593 shares of the construction company’s stock valued at $361,155,000 after purchasing an additional 28,601 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of UFP Industries by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 738,608 shares of the construction company’s stock worth $90,857,000 after acquiring an additional 5,784 shares during the last quarter. Wasatch Advisors LP grew its stake in shares of UFP Industries by 5.2% in the fourth quarter. Wasatch Advisors LP now owns 334,351 shares of the construction company’s stock worth $41,978,000 after acquiring an additional 16,486 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of UFP Industries by 21.0% during the fourth quarter. First Trust Advisors LP now owns 291,228 shares of the construction company’s stock valued at $36,564,000 after acquiring an additional 50,537 shares in the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. raised its position in shares of UFP Industries by 82.3% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock worth $29,007,000 after purchasing an additional 114,166 shares during the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Up 0.2 %

NASDAQ:UFPI opened at $131.10 on Tuesday. The company has a 50 day simple moving average of $121.62 and a two-hundred day simple moving average of $117.92. The company has a market cap of $8.10 billion, a PE ratio of 16.31 and a beta of 1.39. The company has a current ratio of 4.34, a quick ratio of 3.18 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12 month low of $90.62 and a 12 month high of $136.93.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. UFP Industries had a return on equity of 15.86% and a net margin of 7.02%. UFP Industries’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.36 earnings per share. Research analysts forecast that UFP Industries, Inc. will post 7.27 earnings per share for the current year.

UFP Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, August 30th. UFP Industries’s dividend payout ratio (DPR) is presently 16.42%.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Stifel Nicolaus boosted their price objective on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Benchmark increased their target price on UFP Industries from $133.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets boosted their price target on UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. Finally, Wedbush reaffirmed a “neutral” rating and set a $120.00 price objective (up from $102.00) on shares of UFP Industries in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.60.

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.