UFP Industries, Inc. $UFPI Shares Sold by Vest Financial LLC

Vest Financial LLC cut its stake in shares of UFP Industries, Inc. (NASDAQ:UFPI) by 36.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,250 shares of the construction company’s stock after selling 4,665 shares during the quarter. Vest Financial LLC’s holdings in UFP Industries were worth $820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in UFPI. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of UFP Industries during the 1st quarter worth $36,000. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 worth $45,000 after purchasing an additional 119 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of UFP Industries during the 2nd quarter worth $59,000. Signaturefd LLC grew its stake in shares of UFP Industries by 222.5% during the 1st quarter. Signaturefd LLC now owns 816 shares of the construction company’s stock worth $87,000 after purchasing an additional 563 shares during the period. Finally, Covestor Ltd grew its stake in shares of UFP Industries by 20.4% during the 1st quarter. Covestor Ltd now owns 886 shares of the construction company’s stock worth $94,000 after purchasing an additional 150 shares during the period. 81.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UFPI has been the topic of several recent research reports. Zacks Research lowered shares of UFP Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 19th. Loop Capital initiated coverage on shares of UFP Industries in a research report on Wednesday, July 23rd. They issued a “hold” rating and a $112.00 price objective on the stock. Stifel Nicolaus set a $95.00 price objective on shares of UFP Industries and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of UFP Industries in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, UFP Industries presently has an average rating of “Hold” and an average target price of $124.25.

UFP Industries Price Performance

NASDAQ:UFPI opened at $91.41 on Thursday. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 15.87 and a beta of 1.45. The company has a current ratio of 4.54, a quick ratio of 3.16 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average is $97.83 and its two-hundred day moving average is $100.29. UFP Industries, Inc. has a 12-month low of $88.99 and a 12-month high of $141.33.

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

UFP Industries Dividend Announcement

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