UFP Industries, Inc. (NASDAQ:UFPI) Position Reduced by Synovus Financial Corp

Synovus Financial Corp trimmed its position in UFP Industries, Inc. (NASDAQ:UFPI) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,707 shares of the construction company’s stock after selling 498 shares during the period. Synovus Financial Corp’s holdings in UFP Industries were worth $643,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of UFP Industries by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 631,404 shares of the construction company’s stock valued at $82,847,000 after buying an additional 60,859 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in UFP Industries by 3.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 919,018 shares of the construction company’s stock valued at $102,158,000 after acquiring an additional 31,381 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of UFP Industries by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 1,895 shares of the construction company’s stock valued at $213,000 after purchasing an additional 97 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of UFP Industries by 18.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,225,972 shares of the construction company’s stock worth $169,675,000 after purchasing an additional 188,969 shares during the last quarter. Finally, Argent Capital Management LLC raised its holdings in shares of UFP Industries by 35.8% in the 4th quarter. Argent Capital Management LLC now owns 12,306 shares of the construction company’s stock worth $1,386,000 after purchasing an additional 3,241 shares in the last quarter. 81.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Benchmark restated a “buy” rating and set a $135.00 target price on shares of UFP Industries in a report on Wednesday, February 19th. StockNews.com cut UFP Industries from a “buy” rating to a “hold” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $143.00.

UFP Industries Trading Down 1.9 %

UFP Industries stock opened at $103.54 on Thursday. UFP Industries, Inc. has a 52 week low of $99.42 and a 52 week high of $141.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.25 and a current ratio of 4.88. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 15.29 and a beta of 1.45. The company has a 50 day moving average price of $108.20 and a 200 day moving average price of $119.01.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings results on Monday, February 17th. The construction company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.04). The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.43 billion. UFP Industries had a net margin of 6.23% and a return on equity of 13.24%. Research analysts forecast that UFP Industries, Inc. will post 7.08 EPS for the current year.

UFP Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from UFP Industries’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Monday, March 3rd. UFP Industries’s dividend payout ratio is 20.68%.

UFP Industries 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.