Narwhal Capital Management Increases Holdings in UFP Industries, Inc. $UFPI

Narwhal Capital Management boosted its holdings in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 37.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,319 shares of the construction company’s stock after purchasing an additional 14,885 shares during the period. Narwhal Capital Management’s holdings in UFP Industries were worth $5,397,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. bought a new stake in UFP Industries during the 1st quarter valued at approximately $36,000. Caitong International Asset Management Co. Ltd boosted its position in UFP Industries by 39.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 417 shares of the construction company’s stock valued at $45,000 after acquiring an additional 119 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in UFP Industries during the 2nd quarter valued at approximately $59,000. UMB Bank n.a. boosted its position in UFP Industries by 182.1% during the 1st quarter. UMB Bank n.a. now owns 567 shares of the construction company’s stock valued at $61,000 after acquiring an additional 366 shares in the last quarter. Finally, Signaturefd LLC boosted its position in UFP Industries by 222.5% during the 1st quarter. Signaturefd LLC now owns 816 shares of the construction company’s stock valued at $87,000 after acquiring an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 81.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stifel Nicolaus set a $95.00 price objective on UFP Industries in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UFP Industries in a research report on Wednesday. Zacks Research cut UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 19th. Finally, Loop Capital began coverage on UFP Industries in a research note on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $124.25.

UFP Industries Stock Performance

Shares of UFPI opened at $91.35 on Thursday. The business’s fifty day simple moving average is $98.63 and its two-hundred day simple moving average is $100.95. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. UFP Industries, Inc. has a 12 month low of $90.00 and a 12 month high of $141.33. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 15.86 and a beta of 1.45.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, July 28th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.25). UFP Industries had a net margin of 5.31% and a return on equity of 10.95%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the business posted $2.05 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Research analysts anticipate that UFP Industries, Inc. will post 7.08 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 29th. UFP Industries’s dividend payout ratio is presently 24.31%.

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.