OneDigital Investment Advisors LLC Acquires New Holdings in UFP Industries, Inc. $UFPI

OneDigital Investment Advisors LLC bought a new stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 8,590 shares of the construction company’s stock, valued at approximately $779,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of UFPI. IAG Wealth Partners LLC bought a new stake in shares of UFP Industries during the first quarter valued at approximately $28,000. Root Financial Partners LLC grew its holdings in UFP Industries by 86.0% in the 1st quarter. Root Financial Partners LLC now owns 320 shares of the construction company’s stock worth $29,000 after buying an additional 148 shares in the last quarter. Geneos Wealth Management Inc. increased its position in UFP Industries by 54.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 322 shares of the construction company’s stock valued at $32,000 after acquiring an additional 114 shares during the period. Danske Bank A S increased its position in UFP Industries by 300.0% in the 4th quarter. Danske Bank A S now owns 400 shares of the construction company’s stock valued at $36,000 after acquiring an additional 300 shares during the period. Finally, IFP Advisors Inc raised its stake in UFP Industries by 84.8% during the 4th quarter. IFP Advisors Inc now owns 414 shares of the construction company’s stock valued at $38,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.

UFP Industries Trading Down 1.2%

Shares of NASDAQ:UFPI opened at $87.20 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.64 and a current ratio of 3.98. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 20.00 and a beta of 1.23. UFP Industries, Inc. has a 1-year low of $77.89 and a 1-year high of $118.00. The company has a 50 day moving average price of $87.80 and a 200 day moving average price of $91.70.

UFP Industries (NASDAQ:UFPI) last posted its quarterly earnings results on Wednesday, July 29th. The construction company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.11. UFP Industries had a return on equity of 8.00% and a net margin of 3.99%.The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.79 billion. On average, research analysts anticipate that UFP Industries, Inc. will post 4.56 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.7%. UFP Industries’s payout ratio is 33.03%.

Analysts Set New Price Targets

UFPI has been the subject of a number of analyst reports. DA Davidson reduced their price target on UFP Industries from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Zacks Research upgraded shares of UFP Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of UFP Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. BMO Capital Markets raised shares of UFP Industries from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a report on Tuesday, May 5th. Finally, Stifel Nicolaus decreased their target price on shares of UFP Industries from $100.00 to $87.00 and set a “hold” rating for the company in a research report on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.75.

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.