Argent Trust Co Increases Stock Position in UFP Industries, Inc. (NASDAQ:UFPI)

Argent Trust Co raised its position in UFP Industries, Inc. (NASDAQ:UFPI) by 3.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,362 shares of the construction company’s stock after buying an additional 148 shares during the period. Argent Trust Co’s holdings in UFP Industries were worth $489,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Foundry Partners LLC increased its stake in shares of UFP Industries by 13.1% during the first quarter. Foundry Partners LLC now owns 39,107 shares of the construction company’s stock worth $4,811,000 after purchasing an additional 4,526 shares in the last quarter. Nordea Investment Management AB increased its stake in UFP Industries by 28.6% during the 1st quarter. Nordea Investment Management AB now owns 114,762 shares of the construction company’s stock worth $14,150,000 after buying an additional 25,508 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in UFP Industries by 299.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 6,132 shares of the construction company’s stock worth $687,000 after buying an additional 4,597 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of UFP Industries during the first quarter valued at approximately $1,214,000. Finally, Empowered Funds LLC lifted its position in shares of UFP Industries by 14.9% in the first quarter. Empowered Funds LLC now owns 56,562 shares of the construction company’s stock valued at $6,958,000 after acquiring an additional 7,320 shares in the last quarter. Institutional investors and hedge funds own 81.81% of the company’s stock.

UFP Industries Trading Up 3.4 %

NASDAQ UFPI opened at $132.84 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.34 and a quick ratio of 3.18. The stock has a market capitalization of $8.09 billion, a P/E ratio of 16.52 and a beta of 1.39. The firm’s 50-day moving average is $120.77 and its two-hundred day moving average is $117.54. UFP Industries, Inc. has a 12 month low of $90.62 and a 12 month high of $136.93.

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

UFP Industries Dividend Announcement

The company 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. The ex-dividend date was Friday, August 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.99%. UFP Industries’s payout ratio is presently 16.42%.

Analyst Ratings Changes

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

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.