Comerica Bank Has $4.83 Million Stock Holdings in UFP Industries, Inc. $UFPI

Comerica Bank boosted its stake in UFP Industries, Inc. (NASDAQ:UFPI) by 23.7% in the fourth quarter, HoldingsChannel reports. The firm owned 53,020 shares of the construction company’s stock after buying an additional 10,148 shares during the period. Comerica Bank’s holdings in UFP Industries were worth $4,827,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Geneos Wealth Management Inc. grew its holdings in UFP Industries by 54.8% in the second quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock worth $32,000 after purchasing an additional 114 shares during the period. US Bancorp DE grew its holdings in UFP Industries by 2.3% in the third quarter. US Bancorp DE now owns 5,439 shares of the construction company’s stock worth $508,000 after purchasing an additional 122 shares during the period. Inspire Advisors LLC grew its holdings in UFP Industries by 2.2% in the third quarter. Inspire Advisors LLC now owns 6,117 shares of the construction company’s stock worth $572,000 after purchasing an additional 129 shares during the period. Profund Advisors LLC grew its holdings in UFP Industries by 6.1% in the third quarter. Profund Advisors LLC now owns 2,426 shares of the construction company’s stock worth $227,000 after purchasing an additional 139 shares during the period. Finally, Signaturefd LLC grew its holdings in UFP Industries by 66.1% in the fourth quarter. Signaturefd LLC now owns 387 shares of the construction company’s stock worth $35,000 after purchasing an additional 154 shares during the period. 81.81% of the stock is currently owned by institutional investors and hedge funds.

UFP Industries Stock Down 4.8%

UFPI opened at $85.18 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.64 and a quick ratio of 3.13. The company’s 50-day moving average is $94.61 and its 200 day moving average is $96.26. UFP Industries, Inc. has a fifty-two week low of $84.82 and a fifty-two week high of $118.00. The firm has a market capitalization of $4.84 billion, a P/E ratio of 18.60 and a beta of 1.44.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results 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 firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business earned $1.30 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. Research analysts expect that UFP Industries, Inc. will post 5.11 earnings per share for the current fiscal year.

UFP Industries Announces Dividend

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

Analyst Ratings Changes

A number of research firms have commented on UFPI. DA Davidson reduced their price target on shares of UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a report on Friday. Zacks Research cut shares of UFP Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of UFP Industries in a report on Tuesday, January 27th. BMO Capital Markets reiterated a “market perform” rating and set a $108.00 price objective (down from $112.00) on shares of UFP Industries in a report on Monday, April 20th. Finally, Benchmark reduced their price objective on shares of UFP Industries from $125.00 to $115.00 and set a “buy” rating for the company in a report on Friday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, UFP Industries has a consensus rating of “Hold” and an average price target of $107.60.

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.