Bahl & Gaynor Inc. Buys 204 Shares of UFP Industries, Inc. (NASDAQ:UFPI)

Bahl & Gaynor Inc. boosted its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 0.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,389 shares of the construction company’s stock after buying an additional 204 shares during the quarter. Bahl & Gaynor Inc. owned approximately 0.08% of UFP Industries worth $6,321,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UFPI. Norges Bank bought a new stake in UFP Industries during the 4th quarter valued at about $86,885,000. Wells Fargo & Company MN lifted its holdings in UFP Industries by 871.3% during the 4th quarter. Wells Fargo & Company MN now owns 412,116 shares of the construction company’s stock valued at $51,741,000 after buying an additional 369,687 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in UFP Industries during the 1st quarter valued at about $18,245,000. Henrickson Nauta Wealth Advisors Inc. lifted its holdings in UFP Industries by 82.3% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 252,893 shares of the construction company’s stock valued at $29,007,000 after buying an additional 114,166 shares in the last quarter. Finally, Raymond James & Associates increased its position in UFP Industries by 133.2% during the 4th quarter. Raymond James & Associates now owns 188,154 shares of the construction company’s stock valued at $23,623,000 after purchasing an additional 107,477 shares during the period. Institutional investors own 81.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on UFPI. StockNews.com downgraded shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Benchmark cut their target price on shares of UFP Industries from $137.00 to $133.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.50.

UFP Industries Stock Up 0.8 %

NASDAQ UFPI traded up $0.95 during trading on Tuesday, reaching $124.24. 92,111 shares of the company’s stock traded hands, compared to its average volume of 286,038. The company’s 50 day simple moving average is $116.06 and its two-hundred day simple moving average is $116.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.37. UFP Industries, Inc. has a 12-month low of $90.62 and a 12-month high of $128.65. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 15.41 and a beta of 1.41.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Tuesday, April 30th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.34. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. The company’s quarterly revenue was down 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that UFP Industries, Inc. will post 7.53 EPS for the current fiscal year.

UFP Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Monday, June 3rd. UFP Industries’s payout ratio is currently 16.42%.

Insider Transactions at UFP Industries

In other news, CFO Michael R. Cole sold 1,452 shares of UFP Industries stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the transaction, the chief financial officer now owns 165,155 shares of the company’s stock, valued at approximately $19,699,688.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Michael R. Cole sold 1,452 shares of UFP Industries stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $119.28, for a total value of $173,194.56. Following the completion of the sale, the chief financial officer now directly owns 165,155 shares in the company, valued at approximately $19,699,688.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick M. Benton sold 11,725 shares of UFP Industries stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the completion of the sale, the insider now owns 97,729 shares of the company’s stock, valued at $11,265,221.83. The disclosure for this sale can be found here. Insiders have sold a total of 32,687 shares of company stock valued at $3,831,653 in the last 90 days. Insiders own 2.58% of the company’s stock.

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.